It slashes rates by up to 26bps on select two-, three-, and five-year rates
Fintech mortgage lender Gen H has announced a third round of rate reductions in nine working days.
The lender has further slashed rates by up to 26 basis points (bps) on select two-, three-, and five-year rates. The new rates are already live for both broker and direct customers.
Two-year rates were reduced by up to 17bps, three-year rates by up to 26bps, and five-year rates by up to 23bps.
According to Gen H, they were able to price down as the Bank of England recently decided to keep interest rates at 5.25% last week.
Prior to this latest repricing, Gen H made rate cuts of between 17 and 26bps across its two-, three- and five-year products.
“We promised to reduce where and when we could, and again we’re doing just that,” said Pete Dockar (pictured), chief commercial officer at Gen H. “We are in a unique but often beneficial position in the market when it comes to our ability to move quickly on rate reductions.
“We’re thrilled that for a third time in a few short weeks, we’ve made yet another round of cuts to support our intermediary partners and their clients as we head into the Christmas season.”
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