Hodge has introduced two short-term fixed rates on its specialist residential investment (SRI) finance product.
The lender has also added a five-year fixed rate of 6.25% and a longer-term variable rate option.
The new short-term fixed rates on the SRI product, include a two-year fixed rate of 5.85%, a three-year fixed rate of 5.99% and a variable rate option at 3.25% plus the Bank of England base rate.
SRI products are aimed at landlords and investors with portfolios of four or more properties including houses, flats, multi-unit blocks, houses of multiple occupancy and semi-commercial properties.
Hodge head of business development for commercial lending Gareth Davies comments: “The overwhelming feedback was that a short-term fixed product was needed – so that’s what we have worked to quickly develop, to be offered alongside the 5-year fixed rate offering.”
“We hope the introduction of the new SRI rate options will provide brokers and clients with additional flexibility to support them in achieving their business goals.”
Yesterday, Hodge added a professional mortgage to its specialist range, with rates starting from 6.75%.
The mortgage is available to a range of professionals such as barristers, architects, doctors, and dentists.
