Hodge reintroduces later-life purchases

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Hodge is lifting temporary restrictions to its mortgage products.

The lender can now accept applications for new purchases of up to 60% LTV and has lifted the restriction of accepting ‘like for like’ re-mortgages only.

Capital raising will be considered across its entire later-life product range up to 60% LTV. Both purchase and re-mortgage transactions will be based on an automated valuation.

All of Hodge’s later-life products include the Early Repayment Promise (ERP) which gives customers the freedom to sell their property without incurring early repayment charges. This should give some comfort to those looking to re-mortgage now, but who want the flexibility to move home at a later date.

Emma Graham, business development director at Hodge said: “These are difficult times for everyone and we’re pleased to be able to lift some of the temporary restrictions across our later-life products. This will allow us to help more customers secure finance at this challenging time.

“We remain committed to doing all we can to support brokers and to help customers as we navigate these unchartered waters. Over the coming weeks and months, we will continue to review our position in the market with a view to make additional enhancements to our products and criteria in the near future.”

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