Lender drops five-year below 80% LTV rates to sub-5%
Fintech mortgage lender Gen H has announced a new round of rate reductions, slashing rates across its entire product range by up to 25 basis points (bps).
The new rates, now available for both broker and direct customers, encompass the lender’s standard and homebuying bundle range. The reprice also benefits customers seeking to remortgage.
As a result of the latest rate cuts, all of Gen H’s five-year rates for homebuying bundles and standard products up to 80% loan-to-value (LTV) are now below 5%. Reductions of up to 20bps were also made for 60%, 70%, and 75% LTV rates, and an even more substantial reduction of up to 25bps for 80% LTV rates.
This marks the sixth round of rate cuts in the fourth quarter for Gen H, which has an expanded intermediary panel now comprising of over 15,000 brokers.
For brokers, Gen H recently introduced automated packaging in collaboration with Google Cloud, leveraging artificial intelligence (AI) to streamline document categorisation and analysis, simplifying and expediting the mortgage application process.
“It’s been a hugely busy few months for us at Gen H, between our rapid rate reductions and our launches with Experian and Google Cloud,” said Pete Dockar, chief commercial officer at Gen H. “But we’re glad to demonstrate that we’re serious about changing the mortgage industry – from bringing the fairest prices we can to market and truly innovating for our partners.
“We know we’re doing something right, because the response from our intermediary panel has been tremendously positive. We’re looking forward to another great year.”
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