Hodge has reduced rates on its Retirement Interest Only (RIO) and 50+ mortgage products.
Its 50+ mortgage product, with LTVs of 50% or 60%, will see a drop of 0.30 percentage points across the board.
Meanwhile, its RIO products at 50% LTV sees a rate drop of 0.20 percentage points.
Details are as follows:
| Product | LTV | Old rate | New Rate |
| 50+ Mortgage 5 year fixed | 50% | 3.00% | 2.70% |
| 50+ Mortgage 2 year fixed | 60% | 3.19% | 2.89% |
| 50+ Mortgage 5 year fixed | 60% | 3.20% | 2.90% |
| 50+ Mortgage 2-year discount | 60% | 3.09% | 2.79% |
| RIO Mortgage 5 year fixed | 50% | 3.10% | 2.90% |
Emma Graham, business development director at Hodge, said: “Hodge is constantly looking to help our intermediary partners in offering competitive and flexible products and this is our latest move to do just that.
“As a specialist lender in a highly competitive marketplace we’re delighted to launch these lower rates across our later life propositions.
“These reductions in parallel with our common sense approach to lending and our underwriter’s willingness to assess cases on their own merits means we can now support more of your customers with their lending needs.”
