Hodge has boosted its professional mortgage criteria, including broadening the occupations it covers and raising the maximum age at application.
Highlights of the challenger bank’s changes cover:
- Broadening list of occupations to include mortgage brokers, IFAs, investment bankers, teachers, nurses and IT consultants
- Increasing maximum age at application to 75
- Raising maximum age at end of term to 80, earned income up to the age of 80 will be considered
- Interest-only loans available, assessed on an interest-only basis for affordability
Hodge business development director Emma Graham says: “By making these criteria enhancements we can help provide more complex income-related mortgage solutions to a wider group of customers who were previously underserved, while also offering the same flexibility and personal customer service Hodge is known for.”
“The changes in our age criteria also reflect our further understanding of this market.
Graham adds: “We know professionals often have careers that go on until much later in life, so their incomes may be even more complex and include income from pensions and investments, for example.
“We wanted to be able to support professionals at every stage of their career and believe we can now do so thanks to these changes.”
