Thursday, February 1, 2024
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Hodge has increased its maximum loan-to-value (LTV) for debt consolidation purposes.
The maximum LTV has been raised from 60% to 70% on interest-only and from 60% to 85% LTV for repayment mortgages on professional, 50+, and retirement interest-only (RIO) mortgage products.
For larger loans, the maximum loan size has increased from £1.5m to £2m up to 75% LTV, remains at £1m up to 85% LTV, and has increased from £750,000 to £850,000 up to 90% LTV.
Emma Graham, business development director at Hodge, stated that the lender understands the challenges faced by brokers and consumers with complex incomes and aims to provide greater financial flexibility to borrowers. The enhancements to Hodge's product portfolio are in response to the increasing demand for debt consolidation, particularly in the later life space, due to the cost of living crisis and rising interest rates.
Call Trinity Specialist Finance to secure a mortgage on 020 7016 6151 or book a consultation
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