It also temporarily withdrew its with-fee, two-year fixes above 80% LTV
Fintech mortgage lender Gen H has announced a suite of intermediary exclusives that include free valuations for all brokers, free legal work on home purchases provided by Gen H Legal for members of the Gen H Club, and reduced rates on products up to 80% loan-to-value (LTV).
All 10,000 brokers on Gen H’s panel benefit from free valuations on their applications, while members of the Gen H Club can avail of a limited-time-only promotion comprising free legals via its conveyancing firm, Gen H Legal.
Together with free valuations, the lender said these promotions could save customers between £1,000 and £2,000 on their purchase.
Gen H also reduced rates of two-year fixes in LTV bands from 60% to 80%. Rates on two-year fixes from 60% LTV to 75% LTV, with a £999 fee, have been reduced by 15 basis points (bps) to 4.64%, while the same product at 80% LTV has been reduced by 23 bps to 4.64%.
“With these reductions, our products up to and including 80% LTV become some of the cheapest in the market,” Pete Dockar (pictured), commercial director at Gen H, said. “As always, our rate decisions are guided by our customer-first ethos, and we believe these rates will help even more people get on to the ladder affordably.”
The lender also temporarily withdrew its with-fee, two-year fixed-rate products above 80% LTV. Products without fees above 80% will remain available, with rates unchanged.
The latest changes follows Gen H’s recent move from a standard variable rate to a base rate tracker in its aim to create fairer, more transparent prices for customers.
Last November, Gen H entered into an agreement with Nottingham Building Society, providing the fintech lender up to £600 million of forward-flow funding to accelerate the rollout of its suite of mortgage products.
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