Saturday, May 28, 2022

Hodge makes changes to its product offerings


It has launched a brand-new product aimed at experienced property investors who favour buying a mix of commercial buildings

Specialist lender Hodge has made changes to its product offerings, with a new commercial investment product launched and criteria changes to its development finance product.

Hodge has specialised in commercial investment and development lending but has focused more on the residential markets during the pandemic.

It is now widening its product offering again as part of its targeted growth strategy across the commercial lending market.

It has launched a brand-new product aimed at experienced property investors who favour buying a mix of commercial buildings. Its commercial investment finance product is for investors looking to buy real estate assets, such as office buildings, industrial, retail, leisure and mixed-use buildings.

The maximum individual loan size on Hodge’s commercial investment finance is £5 million ($6.27 million), with £10 million ($12.55 million) aggregate to borrowers in common ownership. Loan to Value (LTV) ratios of up to 75% are available with loan terms, floating or fixed rate, for up to five years.

Hodge has also made changes to its development finance offering, where it will now lend on residential and alternative residential asset classes, including student accommodation and retirement living, as well as commercial developments.

Kevin Beevers, managing director of commercial lending at Hodge, noted that there has been a definite shift in appetites of both developers and property investors over the past few years to more diverse developments and portfolios.

We have been working closely with our intermediary partners on what their clients want and need, and believe we have come up with some great changes and a new product that will hopefully help more investors who have historically not been well served by commercial finance otherwise, Beevers said.


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