Rates of five-year fixes were reduced by up to 42bps
Fintech mortgage lender Gen H has announced rate reductions across its five-year product ranges and introduced a set of new three-year products.
The five-year fixes that had their rates slashed include:
- 70% and 75% loan-to-value (LTV) with £999 fee - rate reduced by 37 basis points (bps) to 4.52%
- 70% and 75% LTVs with no fee - rate reduced by 42 bps to 4.57%
- 80% LTV with £999 fee - rate reduced by 28 bps to 4.61%
- 80% LTV with no fee - rate reduced by 36 bps to 4.63%
Meanwhile, the lender’s newly introduced three-year fixed rate products include:
- 60% LTV with a £999 fee - rate is 4.80%
- 70% and 75% LTVs with a £999 fee - rate is 4.83%
- 60, 70%, and 75% LTVs without fee - rate is 4.86%
- 80% LTV with a £999 fee - rate is 4.89%
Gen H, also known as Generation Home, said the rate reduction across the five-year product range meant that they are offering some of the most competitive pricing in the 60% to 80% LTV bands across the entire market for their two-, three- and five-year ranges.
These latest product changes also follow the lender’s recent introduction of a new set of intermediary exclusives, including free valuations.
“Aspiring homebuyers today may feel they’re facing a deeply uncertain economic landscape,” Pete Dockar (pictured), commercial director at Generation Home, remarked. “These rate changes and introductions reflect our commitment to helping everyone find their place on the property ladder – whether they’re looking for flexibility with a three-year fixed rate or certainty and peace of mind with a competitive five-year rate. We are thrilled to continue to act quickly and in the best interests of our customers and broker partners.”
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