Hodge has announced that it is resuming lending up to 70% LTV following the easing of some COVID-19 lockdown restrictions.
The lender is also lifting some of the temporary restrictions on its criteria, which includes removing the loan to income restriction of 4.5x income for like-for-like remortgages – taking it back up to 6x income.
Hodge revealed it is also reintroducing the consideration of earned income up to the age of 80 for affordability.
Hodge business development director, Emma Graham, commented: “We’re pleased to be lifting some of the restrictions we placed on our later life lending range. These changes will start to bring us back to where we were before the outbreak of COVID-19 and will allow us to help more customers at this very challenging time.
“As a responsible lender, we will continue to monitor the situation and improve our criteria where and when possible. These past few months have been difficult for all of us, intermediaries, customers and the finance sector alike, so it is great that we are getting back to some semblance of normality and offering our usual competitive and adaptable service.”
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