"We have fundamentally repositioned our propositions to define our customers based on their goals and aspirations rather than their age"
- Emma Graham, business development director at Hodge
Hodge is rebranding its 50+ mortgage products to Resi Retire and removing the need for borrowers to be aged over 50 to access them.
This new launch follows Hodge rebranding its professional mortgage to Hodge Resi, making the range more accessible for those aged 21 and over with complex income streams.
As part of the changes, Hodge has added new 60% LTV products, with a Resi Retire two-year fix available at 5.68% with a £995 fee.
On its Hodge Resi products, it is also reducing selected rates and introducing higher fee and lower rate products to provide more options for intermediaries dealing with higher value cases.
New Resi products include two-year fixed rates at 60% LTV, available from 5.62% with a £1,995 fee and 5.66% with a £995 fee. Five-year fixes at 60% LTV have launched from 5.38% with a £1,995 fee and 5.42% with a £995 fee.
A Resi two-year fix at 75% LTV has reduced by 36bps to 5.79% and a five-year fix at 75% LTV is down by 16bps to 5.59%, both with a £995 fee.
Emma Graham, business development director at Hodge, said: “As always at Hodge, it’s key that we are constantly listening to and working closely with our intermediary partners to ensure we are developing products and making changes that really make a difference to the end customer.
“Our new Hodge Resi and Hodge Resi Retire products represent a big change for us here at Hodge. We have fundamentally repositioned our propositions to define our customers based on their goals and aspirations rather than their age, which is historically where the later life lending market has been. We have challenged ourselves and asked why products that cater for customers lending into their retirement stipulate a minimum age of 50.
“We are excited to see how the Resi Retire products will be welcomed by the market and are looking to chat brokers, IFAs and networks about how they can help customers get the outcomes they need from their mortgages.”
