We’ll now accept even more types of pre and post retirement income when it comes to our affordability based mortgages: 55+, 55+ RIO and Retirement Mortgage.
Puting you and your clients at the heart of everything we do is really important to us.
You asked for more acceptable income types in relation to our affordability based mortgages (55+, 55+ RIO and Retirement Mortgage), we listened. We’ve now added several more income streams that we’ll take into account when underwriting your clients mortgage.
Did you know we’ve also removed the need for you to send us your client bank statements as evidence of income for mortgages of £250,000 or less? We’ll also look at pre-retirement income up to age 80 as here at Hodge, we understand that there’s no longer such a thing as a ‘typical’ retirement or older borrower and that fexibility is key.
Click here to visit the Adviser site for full details.
Why our interest only mortgages for older borrowers?
- High LTV’s available – for 55+ & RIO up to 60% from age 55, with new business accepted to age 85. For Retirement Mortgage up to 50%.
- Loans from £20,000 to £1,000,000 (max loan £500,000 for Retirement Mortgage)
- Available in England, Wales and Scotland
- A choice of term to age 95 with the 55+ or no end date for our 55+ RIO
- A choice of 2 and 5 year rate fixes
- The mortgage can be used for purchase or re-mortgage
- ERC’s last for just 2 or 5 years based on the rate fix chosen
- Can be sourced whole of market
- Free legal advice available on standard remortgages along with free or discounted valuation deals (55+ and 55+ RIO only).
*Product fee of £995 (only payable if case completes) both mortgages offer a proc fee of 0.55%.
Got a potential case? Get in touch.
Our dedicated business development team would love to talk to you.
- Rachael Williams (South East) – 02920 803006
- Joe Morriss (Midlands) – 02920 803007
- Shane Brown (South West) – 02920 803009
