Gen H has announced another cut in its mortgage rates, marking the third reduction in as many weeks.
The changes are effective immediately and cover products with a loan-to-value (LTV) ratio of up to 90%.
Among the changes, the rate for a 5-year homebuying bundle at LTVs of 60%, 70%, 75%, and 80% has been reduced to 5.38% with a £999 fee, down from 5.53%.
Without the fee, the rate now stands at 5.44%, a decrease from 5.59%. The 2-year homebuying bundle rates for the same LTVs have also been adjusted, now at 5.90% with a £999 fee, down from 6.10%, and 6.05% without the fee, down from 6.25%.
Customers have the added ability to bundle their mortgage with purchase conveyancing from Gen H Legal, the company’s independent conveyancing division. This allows them to access preferential rates on the homebuying range.
The rate adjustments are targeted at first-time buyers and home movers looking for competitive and transparent pricing.
Pete Dockar, chief commercial officer at Gen H, said: “We’re utterly dedicated to helping our customers find their place on the property ladder. Keeping mortgage costs as low as we can is central to this, so we’re delighted we could move quickly to implement further rate reductions today.
“We’re ready to support even more aspiring buyers and homemovers in 2023 with our competitive pricing and innovative features.”
