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For larger loans taken out as professional, 50+ and RIO mortgages, the new loan sizes are:
- up to 75% LTV - £2m (formerly £1.5m)
- up to 85% LTV - £1m
- up to 90% LTV - £850k (formerly £750,000)
For debt consolidation purposes on Professional, 50+ and RIO products, the LTVs can go up to 75% on interest only (formerly 60%) and up to 85% on repayment (formerly 60%)
Emma Graham, BDD at Hodge (pictured above), commented: “As a specialist lender supporting customers with complex incomes, in both later life and professional markets, we understand more than most the challenges facing brokers and consumers when the income is multifaceted.
“We see that these challenges are facing all areas of the market, including high population and high net worth areas such as London and other major UK cities, where larger loan amounts and greater financial flexibility are an ever-increasing requirement for borrowers.
“These latest enhancements to our later life and professional product portfolio are also further demonstration of Hodge’s commitment to continually improving the markets we operate in as a means to supporting our brokers and their customers in the moments that matter.”
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