Hodge has relaxed its 50-plus, retirement interest-only and holiday let criteria to include loans for tower blocks and flat roofs among a range of new lending rules.
The specialist bank’s changes include:
- 50-plus, retirement interest-only and holiday let loans on properties with two kitchens
- 50-plus, retirement interest-only and holiday let mortgages on properties with 100% flat roof
- Launches 85% loan-to-value on 50-plus home loans for new build flats
- Includes properties at six storeys, or higher, on 50-plus, retirement interest-only and holiday let products
Hodge business development director Emma Graham says: “Whether it’s maximising the returns on an existing or prospective holiday lets or remaining flexible around property investment as a possible means for retirement, we understand that customers across the board are looking to make their finances work harder than ever in the current climate.”
“The changes are the latest in a number of enhancements Hodge has made across all of its products in recent months to help with affordability.”
“We are always working to absorb and reflect upon the feedback we receive from brokers and making these latest changes, we believe, will help support customers requiring increasingly flexible lending arrangements in what continues to be a challenging market for many.”
