It reduces rates, including those of homebuying bundles, by up to 0.17%
Fintech mortgage lender Gen H has lowered rates across its entire product range by up to 17 basis points, with new rates already available for both brokers and direct customers.
As a result of the latest rate cuts, the lender’s five-year homebuying bundle rates at 95% loan-to-value (LTV) are now 5.86% with £999 fee and 5.92% without the fee. Its five-year bundle rates at 90% LTV are now 5.78% with £999 fee and 5.84% without the fee.
Gen H’s two-year rates were slashed between 12bps to 15bps across all products.
The latest rate reductions, the lender said, aimed to support clients, especially those who needed higher LTV products. It added that further support to aspiring homebuyers and homeowners were also accessible with its income booster and deposit booster features, which can be availed without paying a premium rate.
“We don’t think it’s fair to penalise affordability or deposit-constrained borrowers with high rates,” remarked Pete Dockar (pictured), chief commercial officer at Gen H. “When customers use an income booster or deposit booster with Gen H, they know we’re offering the lowest rates we can. And this won’t change – as swap rates allow, we’ll be in lockstep with the ‘Big 6’, dropping our rates wherever we can.”
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