Hodge has reduced rates by up to 40 basis points across its whole residential mortgage range, which comprises holiday but-to-let (BTL), 50 plus, retirement interest-only (RIO) and professional options.

It has also cut rates on its retention range by up to 60 basis points.

Examples of the lender’s new pricing includes the fee-free 50 plus two-year fix at 60% LTV now being 5.80% and the fee-free RIO two-year fix at 60% LTV now coming in at 6%, both having receiving a 25 basis point cut.

Meanwhile, the holiday BTL range now hosts a 60% LTV fee-free five-year fix at 6.35% after a 40 basis point cut and the 80% LTV professional mortgage two-year fix, which charges a £995 fee, has enjoyed a 30 basis point cut, taking its price to 6.20%.

Hodge business development director Emma Graham says: “What a great start to 2023, following what turned out to be a bit of a roller-coaster year for mortgages in 2022. We are absolutely thrilled to be starting the year on such a positive note and bringing even greater rate reductions across all of our mortgage products for the benefit of our partners and their clients.

“With reduced rates already bringing much-needed stability back to the mortgage and property market towards the end of last year, it’s incredibly heartening to be announcing yet further reductions across our entire portfolio of mortgage products as we head into the first quarter of 2023.”

This comes after Hodge re-entered the residential mortgage market in July last year.