"We’re all relieved to see swap rates moving in a positive direction following the Bank of England’s decision to hold rates last week."
- Pete Dockar, Gen H’s chief commercial officer
Gen H has announced a new wave of mortgage rate cuts of between 8 and 20bps.
Rates have reduced by 18bps across lower-LTV two and five-year products, with cuts of 20bps on low-LTV three-year rates.
Gen H says its cuts to three-year products come as more broker partners and clients are opting for the “sweet spot” between two and five-year terms.
Gen H has made a series of improvements to its affordability for income booster cases in recent weeks. The lender has also created a new product switching journey which allows brokers to switch their eligible clients in just a few minutes via the lender’s intermediary dashboard, Gen H Pro.
Pete Dockar, Gen H’s chief commercial officer, said: “We’re all relieved to see swap rates moving in a positive direction following the Bank of England’s decision to hold rates last week.
"Affordability is still the greatest limitation for aspiring homeowners in this country, along with deposit challenges which themselves bring about affordability limitations, so it’s critical we take every opportunity we can to reduce our rates, even if it’s only for a week at a time. I’m sure the homeowners who benefit from these lower rates agree, and that’s what matters.”
