Hodge raises the maximum loan-to-value value of its RESI and RESI retirement mortgage range to 95%.
As Hodge moves towards a “lifelong loan” model, borrowers can use borrowers of various income types from the age of 21.
By summarizing its core and retirement mortgage scope, lenders want to support borrowers that other banks ignore.
These include borrowers with complex sources of income, older first-time buyers and second-level courses whose situations have changed greatly, such as divorce.
As a result, the broker asked on behalf of the client People in their 1930s and 40s often seek family homes without financial support from older relatives.
Hodge will consider loans up to 5 times and take into account 100% of income over 80 years old.
It offers up to 40 years of terms and takes a case-by-case approach to underwriting.
Emma Graham, Director of Business Development Their first mortgage.
“Many people have strong income and career potential, but lack a lot of them
Deposit or have an income structure that is not suitable for high street molds.
“These changes respond directly to broker feedback and the Financial Conduct Authority’s discussion paper – the future of the mortgage market, creating compelling claims for these clients and supporting good results.
“It’s to give them the flexibility and personal approach they need
Ensure the right home for their future. ”
