Hodge has made a third rate drop across its range of mortgage products since the start of 2023.

Rates on its RIO, 50+ and holiday let mortgages have dropped by up to 0.40 percentage points across many of its products.

Hodge has also cut rates on its retention range by up to 0.40 percentage points to support existing customers, following a similar reduction on its Professional Mortgage last month.

Emma Graham (pictured), business development director at Hodge, said: “What a start to 2023 we’ve had so far with three rate drops across our products.

“Further stability in the market, as well as in the wider economy means we can pass these rate reductions on, helping our intermediary partners get more great deals for their specialist customers.

“Reducing the retention rates on our products is also a great way that we feel we can reward both our loyal broker and IFA partners, and their clients who choose to stay with us.”