Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Hodge Bank Expands Lending Criteria for Complex UK Properties

Hodge Bank has announced enhancements to its residential lending criteria, aiming to support borrowers interested in a wider range of property types. The changes include the removal of previous restrictions on the number of storeys and acreage, as well as increased loan-to-value (LTV) limits for certain property categories.

The lender has removed the maximum number of storeys, which was previously capped at six, and eliminated the maximum acreage limit, which had been set at 10 acres. Hodge has also increased the maximum permitted flying freehold exposure to 25%, up from 15%.

For ex-local authority houses, the maximum LTV has been raised to 95%, up from 90%. Lending is now also available up to 95% LTV on flats, including ex-local authority flats. However, the LTV for new-build flats remains capped at 85%.

These updates apply across both the Hodge Resi and Hodge Resi Retire mortgage ranges, and are available to applicants aged 18 to 95. In March, Hodge also increased its holiday let LTV to 80%.

These changes may be relevant to letting agents and inventory clerks working with clients who own or manage properties with more complex features, such as taller buildings, larger plots, or flying freeholds.