Hodge has reentered the residential mortgage market for its 50-plus, retirement interest-only and holiday let mortgages, after a short break from new business.
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The bank says that after experiencing “record volumes of business” it had “made the call to close to new applications for a two-week period to restore its levels of service”.
But now says that from today, 4 July, “new applications for all products are now open again, with service level agreements back to 48 hours with other service guarantees to intermediary partners available again too”.
Hodge mortgages business development director Emma Graham says: “We pride ourselves on both our service and the fact that our underwriters assess applications on a case-by-case basis.
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“We remain fully committed to maintaining a personal approach but will continue to invest in technology to provide additional levels of automation while ensuring we’re able to offer the services our brokers have come to expect.”
The bank, which runs a savings department, says that products available through its commercial lending division remain unaffected, with this announcement only relating to personal mortgage loans.
Last month, Hodge appointed Stuart Benge as senior business development manager for commercial lending.
Benge joins Hodge with more than 25 years of finance sector experience, having previously worked with N&P Commercial and Assetz Capital, among others.
In his new role, he will be responsible for expanding Hodge’s presence in the investment property sector on a national scale.
By Roger Baird
Source: Mortgage Finance Gazette