Your guide to Hodge for intermediaries

If you work in the mortgage broking industry, partnering with banks like Hodge for intermediaries can help you grow your business and better support your clients. Hodge Bank is a trusted mortgage provider that has competitive lending options for a variety of client needs. They also have an easy-to-use online platform made just for intermediaries.

In this article, Mortgage Introducer will talk about Hodge for intermediaries and how they can help you and your clients. We’ll highlight their range of mortgage products and some of their useful tools. If you’re wondering whether Hodge is the right fit for your clients, keep reading to find out.

Get to know Hodge for intermediaries

Hodge Bank is the trading name of Julian Hodge Bank Limited, registered in England and Wales. Hodge is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.

Below are some of their unregulated financial products:

• Holiday Let
• Portfolio Buy to Let loans
• Residential Investment lending
• Development Finance

Hodge for intermediaries is a specialist mortgage lender that has been around since 1965. They focus on being innovative, always looking for new ways to improve their services. Hodge is also known for being flexible. They review each case individually to find the best outcome for your clients.

As a specialist mortgage provider, Hodge Bank understands the property market. They’ve been awarded the ServiceMark accreditation by the Institute of Customer Service (ICS), a national recognition for excellent customer service.

This award shows Hodge’s strong commitment to putting clients and mortgage brokers first. So, whether your clients have simple or complex situations and preferences, you can be sure that Hodge for intermediaries will try their best to cater to them.

How Hodge can help intermediaries

Hodge for intermediaries has a variety of helpful tools that their partner-brokers can maximise to improve their services and get more clients. For instance, Hodge offers four online calculators:

1. Resi affordability calculator
2. Resi Retire affordability calculator
3. Retirement Interest Only (RIO) calculator
4. Holiday Buy-to-Let calculator

Let's take a closer look at each:

1. Resi affordability calculator

For clients aged 21 and over, available up to retirement. Helps calculate how much your clients can borrow on a standard residential mortgage.

2. Resi Retire affordability calculator
For clients who are borrowing into or during retirement. When using this tool, select age 50+ to get accurate results.

3. Retirement Interest Only (RIO) calculator
For clients aged 50 and above, looking for interest-only mortgages with no end term. Suitable for lifetime borrowing.

4. Holiday Buy-to-Let calculator
For clients investing in holiday rental properties. Helps estimate how much they can borrow based on rental income and other details.

Want to learn more about how to use an affordability calculator? Watch this:

Working with Hodge might prove to be a big advantage for the UK’s top mortgage intermediaries. This is due to Hodge’s useful tools like their calculators and Knowledge Hub.

Products and services offered by Hodge for intermediaries

Below are some of Hodge Bank’s flagship property loans that your clients might be interested in:

1. Hodge Resi
2. Holiday Buy-to-Let
3. Resi Retire and RIO

Let's take a closer look at each:

1. Hodge Resi

Hodge Resi is a specialist residential mortgage product for clients aged 21 up to retirement. It’s designed for people with diverse or non-standard incomes who may not meet the usual lending criteria. This includes high net worth individuals, self-employed clients, and those with multiple income sources.

As for Hodge Resi’s criteria, they’ll accept just one year of trading accounts or the latest year if the business has been running for over two years. Retained profit from limited companies is also accepted.

Fixed-term and day rate contractors can apply with no minimum income needed. Even gaps of up to three months are allowed. The same can be enjoyed by:

• agency workers
• zero-hour contract earners
• professionals (including locum doctors, bank nurses, and supply teachers)

The maximum loan-to-value (LTV) is 90% for capital and repayment. For interest-only loans, the maximum is 75%.

Repayment vehicles for interest-only include downsizing and family gifted deposits. Landlord equity can also be used toward the purchase.

2. Holiday Buy-to-Let

Hodge’s Holiday Buy-to-Let mortgage is designed for clients who want to rent out a property as holiday accommodation. With more people choosing staycations and short-term lets growing in popularity, this product gives your clients a great way to invest in property.

For the age criteria, your clients can be aged between 21 and 95. There’s no minimum personal income required, and lending can be up to £1.5 million at 75% LTV. Even day-one remortgages are allowed.

The maximum portfolio size at completion is four mortgaged properties, including your clients’ main home. Holiday lets can be based in England, Scotland, or Wales. However, some restrictions apply in London and Edinburgh.

This mortgage is ideal for clients looking to make income from weekend guests rather than long-term tenants. Learn more about Hodge for intermediaries’ Holiday Buy-to-Let mortgage in this video:

In 2019, Hodge launched their Holiday Buy-to-Let. Read this article for more.

3. Resi Retire and RIO

Hodge’s Resi Retire and Retirement Interest Only (RIO) mortgages are ideal for those who don’t meet standard criteria. Hodge for intermediaries looks at each application individually. They focus on your clients’ lifestyle and goals, not just their age.

These mortgages are designed to support flexible income and aim to help your clients borrow as much as they can afford. They can even be recommended without needing a specialist equity release qualification.

For RIO, no repayment strategy is needed. The loan is repaid when your clients pass away or move into long-term care. For Resi Retire (interest only), a clear repayment plan is required. Accepted strategies include:

• downsizing later in life
• selling another property
• selling investments
• using a pension lump sum
• proceeds from an endowment policy

Hodge for intermediaries also offers an Early Repayment Promise. If your clients sell their home and pay off the loan during the term, they can do so without Early Repayment Charges (ERCs). This gives your clients extra peace of mind and flexibility later in life.

Helping your clients when their mortgage deal ends

Are your clients nearing the end of their existing mortgage deal? Here’s an example so you can understand how you can help them:

Let’s say your clients’ fixed-rate mortgage is coming to an end. This’ll be a good time to guide them through their next steps. If no action is taken, their mortgage will move to the Standard Variable Rate (SVR). This is usually higher than their current rate. This could then result in unexpected increases in their monthly payments.

If your clients’ current mortgage is with Hodge, the latter will contact your clients before the current deal expires. This gives you a chance to review their options and help them secure a new deal. If your clients want to stay with Hodge, they will need to complete and return a new application form. The new mortgage terms will start once the signed mortgage offer is returned.

Switching mortgages

Switching early is possible, but your clients might face early repayment charges (ERCs) if they leave their current deal before the end date. Hodge for intermediaries doesn’t charge legal fees for switching. Plus, they don’t carry out new credit or affordability checks.

However, your clients will need to pay any product fees linked to the new deal. If there’s been a significant change in property value, a valuation fee might also apply.

Why work with Hodge for intermediaries?

Hodge for Intermediaries is a good choice for mortgage brokers who work with clients in unique situations. Whether your client is planning to move, nearing retirement, or buying a holiday let, Hodge has competitive products that can meet their needs.

Their broker-only platform is built to support intermediaries, with tools and features that make case management easier. You’ll also get access to helpful online calculators, product guides, and a dedicated support team. There are more than enough reasons why working with Hodge for intermediaries is good for your clients and your career.

In the end, it’s only a matter of finding the right case and letting Hodge help you place it.

Want to explore mortgage lenders aside from Hodge? We also have guides for other broker-focused mortgage providers. Feel free to choose from any of these below:

• NatWest for intermediaries
• Barclays for intermediaries
• HSBC for intermediaries
• Nationwide for intermediaries
• Accord for intermediaries
• Coventry for intermediaries
• Leeds for intermediaries
• Skipton for intermediaries
• Aldermore for intermediaries
• Precise for intermediaries

Still can’t find what you’re looking for? Discover more property loan providers on our Guides page.