Gen H has announced a reduction in its residential mortgage rates starting at 5:30 pm on 13th May 2024, to support more individuals looking to purchase homes or refinance.
The new rates will see a decrease of 0.25% for products with a loan-to-value of up to 80% and a reduction of 0.05% for higher LTV products.
This decision follows a notably active period for the lender, despite ongoing challenges in the broader interest rate environment, and aims to encourage uptake among potential homeowners and those reconsidering their current mortgage deals.
The offer is specifically available to first-time buyers, home movers, and remortgagers who approach the lender through a mortgage broker.
Pete Dockar, chief commercial officer at Gen H, said: “Those who have worked with Gen H know that we take every opportunity to reduce our rates, and this is one such occasion where we’re able to move quickly for the benefit of our customers.
“With the timings of any base rate reduction still far from clear cut, we recognise that homeowners need all the support they can get.
“We’re happy to be there for them in every way we can – whether that’s with a significant rate reduction or our flexible lending criteria.”
