Established in 1987, Hodge Bank is named after Sir Julian Hodge. It is the only UK bank to be headquartered in Wales, with its head office based in Cardiff. The bank also has a subsidiary company, Hodge Lifetime, founded in 1965.
While Hodge did not officially become a bank until the late 80s, it was born from two other banks founded by Sir Hodge – Bank of Wales and Chartered Trust. Hodge is the only one of these three companies still run by the Hodge family.
Hodge is not a clearing bank and mostly offers products designed to work alongside those offered by the clearing banks.
Hodge Bank Products and Services
Hodge Bank works with commercial clients across Wales, London, the Home Counties and the South West. These clients are primarily real estate businesses.
Hodge helps customers finance investment properties including office space, industrial warehouses, leisure and residential properties. Each loan is bespoke and tailored to the borrower’s needs. Commercial owner-occupier mortgages are offered for office, retail and industrial businesses.
Commercial customers looking to grow their property development portfolio can work with their Hodge advisor to figure out a bespoke solution in even a short time frame.
In more recent years Hodge Bank has expanded into the renewable energy sector, offering lending products for projects including turbine construction.
Hodge also offers fixed rate ISAs, with periods from one to five years. These ISAs are fixed term and money cannot be accessed over the period, with 1-year accounts earning 1.4% interest per annum and 5-year accounts 2%. Fixed rate bonds can be opened over periods from one month (0.71% interest) to five years (2.5% interest). Junior Cash ISAs are available for children.
Customers who may need access to their savings but still want to earn a good rate of interest can take out a notice account – either 8 day or 30-day options are available. The 30-day account earns 1.1% interest per annum.
Hodge Bank Security
Hodge Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority.