Gen H has announced rate cuts of up to 0.25% across its entire mortgage product suite.
The cuts affect all term lengths and loan-to-value (LTV) ratios, with the most significant reduction of 0.25% applying to 5-year products at 85% to 95% LTV.
The rate cuts include 0.20% reductions on 2-year products at 60% to 80% LTV and 3-year rates across all LTVs, while 2-year products at 85% to 95% LTV and 5-year products at 60% to 80% LTV have been reduced by 0.15%.
High loan-to-income (LTI) rates will decrease by 0.05% less than the standard ranges.
Gen H’s New Build Boost product has been reduced by 0.20% to 6.14%, creating an effective rate of approximately 5.2%.
The product allows buyers to contribute 5% while taking an 80% main mortgage from Gen H and receiving a 15% interest-free boost, meaning they only pay interest on the 80% main mortgage portion.
Sara Palmer, Gen H’s sales and distribution director, said: “I’m very pleased to bring these cuts to market.
“There has been so much uncertainty for buyers and brokers alike in recent weeks, this is a brief moment of reprieve where I hope clients can finally get the certainty they have been looking for.
“All brokers on our panel can now advise on New Build Boost, they just need to reach out to us to register their interest.”
