Hodge Bank has expanded its foreign national mortgage criteria, increasing maximum loan-to-value limits and easing residency requirements as it looks to support a broader range of borrowers entering the UK housing market.
The specialist lender has increased the maximum LTV available to foreign national applicants to 95%, up from 90%, marking the latest in a series of criteria enhancements aimed at improving access to residential mortgage finance.
The changes follow recent updates to Hodge’s residential proposition, including raising the maximum LTV available for debt consolidation cases to 90% and remortgages to 95%.
Alongside the higher LTV limit, Hodge has reduced its minimum UK residency and employment history requirements from two years to one year. The lender said there is no minimum income requirement and, as a manually underwritten lender, it may also consider applicants who have been resident in the UK for less than 12 months on a case-by-case basis.
The revised criteria apply across both the Hodge Resi and Hodge Resi Retire mortgage ranges.
Hodge accepts applications from borrowers holding a range of visa types, including Global Talent, Skilled Worker, Health and Care Worker and Spousal visas.
Emma Graham, business development director at Hodge, said: “We’ve seen growing demand from foreign national borrowers, particularly those looking to access higher LTV lending.
“Many of these customers are skilled professionals who have established careers and are making a significant contribution to the UK economy but can still face barriers when accessing mortgage finance.
“By increasing lending up to 95% LTV and reducing our residency and employment history requirements, we’re providing greater flexibility and helping more borrowers take their next step on the property ladder.”
The move follows other recent enhancements to Hodge’s lending criteria, including increased maximum loan sizes at higher LTV bands. The lender now offers borrowing of up to £750,000 at 95% LTV, £2 million at 90% LTV and £2.5 million at 85% LTV.
Hodge specialises in residential lending for customers with complex income structures, affordability considerations and interest-only borrowing requirements, offering mortgages to borrowers aged between 21 and 95.
