Hodge announces further rate reductions across its Professional Mortgage range
Hodge is announcing further reductions on rates across its Professional Mortgage range from tomorrow (4 May).
It is the third time the specialist lender has dropped rates on its Professional Mortgage product since it first launched it in December.
Now Hodge has moved to reduce rates across its Professional Mortgage product range once more, with a decrease on both its 5-year and 2-year terms, demonstrating yet again how the bank is listening to its intermediary partners about what is needed in the market.
The new rates, as of Thursday May 4th are:
| Product | Max LTV | Product Fee | Current Rate | New rate | Difference |
| Professional Mortgage 2 year fixed | 80% | £995 | 5.80% | 5.50% | 30% |
| Professional Mortgage 2 year fixed (fee free) | 80% | £0 | 5.95% | 5.65% | 30% |
| Professional Mortgage 5 year fixed | 80% | £995 | 6.25% | 5.70% | 55% |
| Professional Mortgage 5 year fixed (fee free) | 80% | £0 | 6.40% | 5.85% | 55% |
| Professional Mortgage 2 year fixed | 90% | £995 | 5.85% | 5.55% | 30% |
| Professional Mortgage 2 year fixed (fee free) | 90% | £0 | 6.00% | 5.70% | 30% |
| Professional Mortgage 5 year fixed | 90% | £995 | 6.40% | 5.75% | 65% |
| Professional Mortgage 5 year fixed (fee free) | 90% | £0 | 6.55% | 5.90% | 65% |
It also follows the introduction of an interest only option on Hodge’s Professional Mortgage range announced in March to offer those with complex incomes, professional traineeships or in self-employment even greater flexibility when it comes to buying a property.
Emma Graham, business development director at Hodge, said: “It’s an absolute delight to be able to cut rates further on a product which has been so warmly welcomed by our highly valued customers, and continues to help us flex and grow in the way we are able to support them regardless of how their income may be structured.
“We’ve continually made changes to our Professional Mortgage range since it first launched in response to the positive feedback we’ve received, and it’s been wonderfully rewarding to see this new form of lending for Hodge fit into the market so well, in what is a relatively short space of time.
“We’re really thrilled, therefore, to be announcing this latest reduction in rates as one of the many ways we continue working hard to support professionals who might otherwise find themselves excluded by high street lenders not willing to properly assess or manage the complex income streams associated with the kinds of jobs they do.”
