Gen H cuts mortgage rates, launches sub-5% products

Gen H has announced a significant reduction in their loan-to-value (LTV) rates, introducing new products with sub-5% LTVs. The rate cuts range between 0.20% and 0.50% across their 60%, 70%, 75%, and 80% LTVs for 2-, 3-, and 5-year terms.

A key development in this round of rate reductions is the introduction of competitive homebuying bundle rates.

These include a 2-year 60% LTV at 4.99%, a 3-year 60% LTV at 4.84%, and a 5-year 60% LTV at 4.87%, each accompanied by a £999 fee. The 60% LTV rates have seen a substantial decrease, with a 0.32% reduction for the 5-year term and a 50 basis point reduction for both the 2- and 3-year terms.

Meanwhile, the 70%, 75%, and 80% LTVs have experienced a 0.20% reduction for the 2-year term, 22 basis points for the 3-year term, and 0.26% for the 5-year term. However, the rates for 85%, 90%, and 95% LTVs remain unchanged.

Pete Dockar, chief commercial officer of Gen H, said: “It has been a very busy few weeks for our team as we’ve taken every opportunity to reduce our rates.

“This is one of the benefits of our tech-led business model – we are able to pivot fast if it benefits our customers, and lower rates always do.

“These cuts are giving our customers even more options. Now, we’re heading into December with optimism and are thrilled we’ve been able to move at pace to introduce selected sub-5% rates before Christmas, all while continuing to develop the innovative features that give so many buyers a much-needed boost onto the property ladder.”