Gen H launches free valuations and rate reductions on 80% LTV products

Gen H has launched a suite of intermediary exclusives that include free valuations for all brokers, free legal work on home purchases provided by Gen H Legal for members of the Gen H Club and, effective Monday, sweeping cuts to rates up to and including 80% LTV.

Effective today, all 10,000 brokers on Gen H’s panel will enjoy free valuations on their applications.

The introduction of free valuations comes as the lender moves to streamline and strengthen its proposition for intermediary partners.

Will Rice (pictured), Gen H co-founder and CEO, said: “We’re thrilled to be delivering on our promise to keep creating greater value for our broker partners and customers.

“With leading rates, the best service levels in the market by a wide margin – our application-to-offer time is under 3 days – and a legal service that matches the exceptional support to be found in our lending business, we’re closing in on our goal to be the only lender you’ll need.”

Gen H is also offering members of the Gen H Club a limited-time-only promotion comprising free legals via its conveyancing firm, Gen H Legal.

Together with free valuations, these promotions could save customers between £1k and £2k on their purchase.

Gen H will introduce new rates that will place the fintech lender at the top of the sourcing tables for 2-year fixes in loan-to-value (LTV) bands from 60% to 80%.

Rates on 2-year fixes from 60% LTV to 75% LTV with £999 fee have been reduced by 15 bps to 4.64%, while rates on 2-year fixes at 80% LTV with £999 fee have been reduced by 23 bps to 4.64%.

The lender will also temporarily withdraw its with-fee, 2-year fixed-rate products above 80% LTV.

Products without fees above 80% will continue to be available and rates are unchanged.

This announcement follows Gen H’s recent move from an SVR to a BoE base rate tracker in an effort to create fairer, more transparent prices for its customers.

Gen H commercial director, Pete Dockar, added: “With these reductions, our products up to and including 80% LTV become some of the cheapest in the market.

“As always, our rate decisions are guided by our customer-first ethos, and we believe these rates will help even more people get on to the ladder affordably.”

ADVERTISEMENT