Gen H has rolled out another set of rate reductions across its entire range of mortgage products, with a focus on 5-year terms under 80% Loan-to-Value (LTV).
This move is part of the lender’s strategy to offer competitive rates in the market, with the latest reductions making all 5-year rates below 80% LTV now under 5%.
The rate cuts include up to 0.20% off for 60%, 70%, and 75% LTV products, and up to 0.25% for 80% LTV. These changes are effective immediately for both broker and direct customers, encompassing the lender’s standard and homebuying bundle ranges, as well as remortgaging options.
This is the sixth series of rate reductions by Gen H in the fourth quarter, highlighting the lender’s commitment to providing attractive rates in the market.
Gen H has been actively expanding its services over the year, growing its intermediary panel to more than 15,000 brokers and introducing innovative tools and features to aid homeowners. Among these developments is the automated packaging system in collaboration with Google Cloud, employing AI to streamline mortgage applications for brokers.
For clients, Gen H has integrated Experian Score Boost data into its credit decision processes, aiding those with limited credit history or near the credit threshold in securing mortgages. The company’s income booster feature also continues to facilitate homeownership, allowing family support without financial contribution to the mortgage payments, provided the mortgage is well-maintained.
Pete Dockar, chief commercial officer at Gen H, said: “It’s been a hugely busy few months for us at Gen H, between our rapid rate reductions and our launches with Experian and Google Cloud. But we’re glad to demonstrate that we’re serious about changing the mortgage industry – from bringing the fairest prices we can to market and truly innovating for our partners.
“And we know we’re doing something right, because the response from our intermediary panel has been tremendously positive. We’re looking forward to another great year.”
