"There were rate increases from big lenders on Monday, but thanks to our nimbler approach we’ve instead been able to make some meaningful reductions."
- Pete Dockar, Gen H’s chief commercial officer
Gen H has announced a new round of rate reductions to support aspiring first-time buyers, home movers and remortgagers.
Five-year rates up to and including 80% LTV are decreasing by 25bps and five-year rates above 80% LTV are decreasing by up to 19bps.
Three-year fixes up to 80% LTV have reduced by up to 13bps and rates above 80% LTV are down by up to 10bps.
Two-year fixes up to 80% LTV are decreasing by up to 16bps and above 80% LTV by up to 10bps.
Yesterday, the lender announced it would close its direct application channel to become an intermediary-only lender.
In recent weeks, Gen H has made a series of announcements, including the launch of its new product switching journey and improved income booster affordability.
Pete Dockar, Gen H’s chief commercial officer, commented: “It’s been an interesting week for the mortgage market – and it’s only Tuesday! There were rate increases from big lenders on Monday, but thanks to our nimbler approach we’ve instead been able to make some meaningful reductions.
"It’s a challenging environment for buyers, so it’s more important than ever that we act fast when we can to equip our intermediary partners with the tools and rates they need to support their clients.”
