Hodge is cutting rates on its 50+ and retirement interest-only products for the second time this month – this time with reductions of up to 33 basis points.

The lender has lowered rates on a selection of two and five-year fixed rates for new and existing customers today.

The following are some of the biggest reductions in its 50+ range:

• A fee-free two-year fix at 75% LTV has come down by 0.33 percentage points from 6.7% to 6.37%
• A fee-free two-year fix at 85% LTV has come down by 0.15 percentage points from 7% to 6.85%.

The following RIO products are also among those to see rates drop:

• A two-year fix at 75% LTV with a £995 has come down by 0.2 percentage points from 6.75% to 6.55%
• A fee-free two-year fix at 75% LTV has come down by 0.2 percentage points from 6.9% to 6.7%

Hodge business development director Emma Graham says: “We are thrilled to reduce rates further across many of our RIO and 50+ mortgage products.

“This rate reduction is another sign of stabilisation of the market, enabling us to implement changes more frequently.

“By making two rate reductions in less than a month, we are hoping this will instill even more confidence in the market and encourage our intermediary partners to access Hodge’s flexible solutions.”