Hodge is updating its broker commission structure, increasing procuration fees from 0.45% to 0.55% on its Hodge Resi products.  

This adjustment aligns procuration fees across its entire residential proposition including the Hodge Resi, the Hodge Resi Retire, RIO and Holiday Buy to Let.

Last year, Hodge increased retention procuration fees to 0.30%, whoch it said showed its commitment to compensating brokers fairly across its product range, at a time when independent financial advice has arguably never been so important for customers.

Hodge is also introducing selective rate reductions of up to 0.27% across its products, including the Hodge Resi, the Hodge Resi Retire, and Holiday Buy-to-Let.

Hodge’s recent product enhancements, including expanded criteria for foreign nationals, increased Loan-to-Income (LTI) ratios, and the removal of the minimum age of 50 for certain products, continue to broaden access to lending solutions.

Hodge has also implemented the Automated Valuation Model (AVM) for select cases which is having a positive impact on its speed to offer making for greater efficiencies through the mortgage journey.

Emma Graham, Business Development Director, says: “These updates reflect our ongoing commitment to you, our intermediary partners. By increasing procuration fees and aligning our fee schedule, we’re recognising the complexity found in all customer types, rewarding brokers equally across our product range.
 
The enhancements to our products and processes are an important part of this strategy, as we strive to make our proposition accessible to a broader range of customers.”