Hodge declares temporary closure to new business

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Hodge will close for new business across all its mortgage products on what it says is a temporary basis from Thursday 16 June.

On a note published on the lender’s website, it says it is currently unable to fulfil service levels because of record high business volumes.

Hodge states that all decisions in principles must be submitted by 5pm on Thursday 16 June and that full applications must then be submitted before 5pm on Monday 20 June to secure the rate offered.

Any submissions made after this window will not be reviewed, the lender adds.

The note concludes: “We appreciate the challenge you face with a number of lenders withdrawing and increasing their interest rates at this time, and we are committed to communicating updates with you regularly on when we will be re-opening for new business.”

Hodge business development director Emma Graham says: “Pausing new mortgage business applications is not a decision we’ve taken lightly, but it’s one we think best serves our broker network, our team at Hodge and vitally, our customers.

“In the past couple of months our business volumes have been at a record high so we’ve made the decision to pause to support our operational teams in delivering the personal, efficient service Hodge prides itself on.

“I’d like to reassure brokers Hodge is not withdrawing from the market for a prolonged period of time, but rather taking a short break to reset and bring us back to a place where we can meet the standards of service you expect from us.”

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