In This Article
Who are Hodge?
Hodge has been a specialist bank since 1965 providing specialist financial services including asset finance, bridging, commercial mortgages, buy to let mortgages, retirement living and residential mortgages.
The banks vision is to be the trusted financial partner for professionals and businesses who need to fund specialist properties. They aim to be the UK’s most respected specialist lender, with a reputation – built on trust – for being professional and straightforward to work with.
Hodge also does the right thing with regards to having a social responsibility. The Hodge Foundation, a charity supporting the welfare, medical, academic and educational areas owns over 79% of their business. This drives them, knowing that by helping customers to achieve their goals, they are also helping good causes that are important to them.
You may be able to get a specialist mortgage from Hodge directly or via a mortgage broker.
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What mortgages do Hodge specialise in?
Hodge offer a wide range of flexible mortgages, having created the first Equity Release product more than 50 years ago, and today offering one of the broadest ranges of later life solutions on the market.
The bank’s wide range of mortgages may be suitable whether you are a first-time homebuyer, looking to invest in property, or a seasoned professional landlord.
Hodge look at income differently and the Hodge Lifetime Early Repayment Promise can give you greater flexibility and peace of mind, enabling customers to sell their property free from any early repayment charges (ERC’s) during the promotional period.
In 2019 Hodge launched, the Hodge Lifetime Holiday Let Mortgage which can allow your investors to make the most of the growing staycation market.
The lender has also entered the portfolio buy to let landlord space, which is for professional landlords looking for one loan to deal with their entire portfolio.
Hodge’s mortgage products include:
- Residential Interest Only Mortgages
- Retirement Interest Only (RIO) Mortgages
- Holiday let mortgages
- Portfolio buy to let mortgages
- Professional mortgages including Barrister mortgages
- Mortgages into retirement
- Mortgages for foreign nationals’ that are resident in the UK
Are Hodge mortgage rates competitive?
Hodge aim to be competitive in their target market. It is important to consider all aspects of the mortgage which includes the initial rate, revert rate, fees, flexibility of the product such as ERCs or portability and the lender’s service before deciding.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be the one with the lower initial rate.
Can I switch my mortgage deal with Hodge?
If you are already a customer of Hodge you will need to speak to them if you are considering changing your mortgage rate.
A mortgage broker can complete a product transfer for you and switch your deal with Hodge, saving you time and hassle. Before a mortgage broker completes a product transfer, they would need to ensure that staying with your current lender is the best option for you.
How long does it take to get an offer with Hodge?
The time it takes to get an offer depends on the product you are applying for. On average Hodges’ time from application to offer is normally around four weeks. However, this duration can be extended for more complex mortgages. The time it takes to get the offer will also depend on the information you provide to Hodge and how quickly a valuation can be completed. A mortgage advisor is normally more experienced in dealing with lenders and can often speed up the time to offer than applying directly.
Hodge declined me a mortgage, what do I do now?
If Hodge have declined a mortgage application for you, you should investigate the reason why.
A mortgage advisor may be able to find you a lender willing to give you a mortgage but will need to know the background on why Hodge declined you if you went direct to them.
You can be declined for many reasons such as, a low credit score, adverse credit, or the property was not suitable security.
To check your credit profile you can utilise either Equifax, Experian or Check My File, which is the UKs most detailed report and offers a free trial.
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Conclusion
Hodge is a specialist bank that has been operating since 1965. It offers a broad range of financial services, including asset finance, bridging, commercial mortgages, buy-to-let mortgages, retirement living, and residential mortgages. The Hodge Foundation, a charity that supports the welfare, medical, academic and educational sectors, owns over 79% of the business. This motivates the company, knowing that by helping customers to achieve their goals, they are also helping good causes that are important to them.
You can apply for a specialist mortgage from Hodge either via a mortgage broker or directly. Hodge offer a wide range of flexible mortgages, having created the first Equity Release product over 50 years ago. Today, they offer one of the broadest ranges of later life solutions on the market. The lender has also entered the portfolio buy to let landlord space, which is for professional landlords looking for one loan to deal with their entire portfolio.
Hodge offer a variety of mortgage products, including interest-only mortgages, retirement interest-only mortgages, holiday let mortgages, portfolio buy to let mortgages, professional mortgages, and mortgages for foreign nationals.
They strive to be competitive in their target market and offer a number of different rates and fees depending on the product. An independent mortgage advisor can help you find the best option for you, and a mortgage broker can switch your deal with Hodge if you are already a customer.
The time it takes to get an offer from Hodge depends on the product you are applying for, but on average is around four weeks. If Hodge declines a mortgage application from you, you should investigate the reason why, which could be due to a low credit score, adverse credit, or the property not being suitable security.
Should you want to speak to a mortgage advisor, please input your details in the contact box below, and I NEED ADVICE will match you with a mortgage advisor who can review the whole market and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
