Gen H drops rates of select products to sub-5%

It also introduces new homebuying rates

Gen H drops rates of select products to sub-5%

Fintech mortgage lender Gen H has made yet another round of rate cuts with new sub-5% products at various loan-to-values (LTVs).

The lender reduced rates across its 60%, 70%, 75%, and 80% LTVs at two-, three- and five-years by 20 to 50 basis points (bps).

This includes a 32bps reduction on 60% LTV for five-year, a 50bps cut on 60% LTV for two- and three- year options, and 20, 22, and 26bps cuts on 70%, 75%, and 80% LTVs for two-, three- and five-year products, respectively.

Product rates at 85%, 90% and 95% LTV remain unchanged.

Gen H also launched new homebuying bundle rates, including a 60% LTV two-year deal 4.99%, thee-year at 4.84%, and a five-year at 4.87% – all with a £999 fee.

“It has been a very busy few weeks for our team as we’ve taken every opportunity to reduce our rates,” commented Pete Dockar (pictured), chief commercial officer at Gen H. “This is one of the benefits of our tech-led business model – we are able to pivot fast if it benefits our customers, and lower rates always do.

“These cuts are giving our customers even more options. Now, we’re heading into December with optimism and are thrilled we’ve been able to move at pace to introduce selected sub-5% rates before Christmas, all while continuing to develop the innovative features that give so many buyers a much-needed boost onto the property ladder.”

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