Gen H announces high-LTV rate reductions

October 30, 2024 by Brendan O'Neill

Rates

Gen H is reducing the rates for its mortgage products with high loan-to-value (LTV), a decision that comes during a period when many of its rivals are raising their rates.

In some cases, these reductions are by as much as 25bps, which will certainly help the lender to stand out in the current market. It has stated that it is keen to assist people who are trying to buy for the first time, as well as those who want to move home and remortgage customers.

The biggest rate reductions are those for the fixed five-year loans with LTV of 95% and 90%. These are the products that are seeing their rates cut by 0.25bps. When it comes to the fixed three and two-year mortgages with LTV of 95% or 90%, the rates have been cut by 0.16%.

Gen H has also reduced its rates on the 85% LTV three and two-year fixed ranges. In the case of these products, the reductions range from 0.15bps to 0.25bps.

In an interview with Financial Reporter, the lender’s chief commercial officer Peter Dockar stated that:

“We’re delighted to introduce these rate cuts today. We’re in the midst of another spate of volatility within the market and so we are thrilled to have been able to act positively and move rates in the right direction for our intermediary partners and their clients.”

Anyone who has done the CeMAP mortgage advisor course will be happy to see at least one lender lowering their rates in advance of the upcoming autumn budget.