Hodge overhauls RIO offering

Hodge has cut interest rates across all its retirement interest-only mortgages, lowered the age limit and introduced fee-free options.

The retirement specialist has introduced a RIO product with an interest rate of 3.1 per cent, which it claims is the lowest on the market.

As well as cutting rates across its range, Hodge has introduced several new features including increased loan-to-value limits of 70 per cent, fee-free options and free valuations. It will also offer penalty-free overpayments and free legals.

Hodge has also lowered the age limit on its RIO and 55+ mortgage products to 50 years of age. It says it’s the first dedicated later life provider to reduce its RIO lower age limit to 50.

These changes are the latest in a series of major shakeups by the lender which include the appointment of new chief executive officer Steve Pateman, and the introduction of Matt Burton as its new managing director of mortgages.

Burton says: “These huge changes to our RIO mortgage offering will give customers a new level of flexibility they may have never seen before.

“It’s been almost a year since Hodge launched one of the very first RIO mortgages, but as our customer’s needs develop, we strongly believe we need to evolve the market and the product we offer to make sure we’re meeting them.

“Over recent months, as part of our Helping Hand initiative, we’ve listened extensively to feedback from advisors, brokers and customers to help us understand what features people want from this new and growing market.

“With market leading rates, free valuations, fee-free options, higher LTV limits and a lower age limit, we’re confident that our new RIO offering sets a new standard on value and flexibility for the dramatically changing face of retirement.”

All Hodge mortgage offerings are advised, and only available through advisers, brokers and broker networks.



Hodge Lifetime’s Steve Cox joins Fleet Mortgages

Specialist lender Fleet Mortgages has appointed Steve Cox as its new distribution director. Cox most recently worked at Hodge Lifetime as business development director with responsibility for lifetime and equity release sales; he held the role since April 2016. Prior to this Steve spent eight years as head of commercial development at Sesame Bankhall Group. […]


Positive adds Hodge Lifetime to panel

Specialist packager Positive Lending has added Hodge Lifetime to its lender panel. The later life lender’s 55 Plus mortgage product provides a solution for customers, both pre and post retirement, looking for remortgage opportunities or to purchase a new property. Director of mortgages at Positive Lending director Stephanie Charman says: “Hodge’s specialism in the equity release market made them the […]


Hodge Lifetime launches lump sum lifetime products

Hodge Lifetime has launched a new range of lump sum equity release products. The range has loans with both standard and enhanced LTVs of up to 49 per cent. The lender is also giving the choice between fixed rates or variable rates linked to CPI. Variable rate loans start from 3 per cent per annum […]

Guide front cover - thumbnail

Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


News and expert analysis straight to your inbox

Sign up