Hodge reduces holiday let rates

The fee-paying option — which includes a £995 product fee— is now priced at 3.75%, while the non-fee option has been reduced to 3.9%.

This comes after the intermediary-only lender cut rates across all its 75% LTV holiday let mortgages by 0.10 percentage points earlier this month.

Emma Graham, business development director at Hodge, said: “It’s no surprise that in a rising rate environment, we’ve seen an uplift in written business on our longer-term fixed rate products.

“This is why we’ve made further changes to our rates to provide a more competitive choice for those borrowers looking to fix their monthly payments for longer.

“The added benefit of the Hodge early repayment promise gives peace of mind that ERCs can be waived, should borrowers decide to sell their holiday let property during the promotional period.”