Residential mortgage lender Gen H has announced a selection of rate adjustments, including cuts targeted at supporting buyers with small deposits.
Gen H has reduced its two-year 90% and 95% rates by up to 15 bps and all three-year products by up to 15 bps.
As part of the changes to its range, Gen H has withdrawn all 60% and 70% rates and increased its five-year 90% LTV products with a £1,499 fee by 5 bps.
For buyers who can afford the monthly payments but still need an affordability boost, Gen H offers its joint borrower 'income booster' product. An income booster goes on the mortgage to increase what the buyer can borrow, but not on the property deeds.
As of February 2025, income boosters can also live in the property they help purchase. They’ll need to take extra independent legal advice and sign a waiver at their own expense.
Pete Dockar, chief commercial officer at Gen H, said: “It’s always important to look for ways to support that cohort of aspiring homeowners who are the most underserved by the wider market: those with small deposits. Saving a deposit is a gargantuan task in today’s economy, we’re doing all we can to support prospective buyers and keeping mortgage costs as low as we can is an important part of that.”
