Gen H is cutting rates across its core and homebuying bundle ranges by between 10 and 30 bps.

The lender said that it has given a special focus to its 95% LTV rates.

Changes include the following:

• Rates up to and including 80% LTV are reduced by 15 bps
• 85% and 90% LTV 2- and 3-year rates are reduced by 10 bps
• 85% and 90% LTV 5-year rates are reduced by 15 bps
• 95% LTV 2- and 3-year rates are reduced by 20 bps
• 95% LTV 5-year rates are reduced by 30 bps

Gen H recently announced that friends can now act as income boosters on mortgages up to 80% LTV, and nieces and nephews can be income boosters on mortgages up to 95% LTV.

Pete Dockar (pictured), Gen H chief commercial officer, said: “The mood across the mortgage market has been positive for the last few weeks as many lenders reduce rates – I’m delighted that we’ve kept pace with the speed of these reductions.

“Talk of the cost of living crisis may have faded into the background, but the cost of borrowing is still very high and many aspiring homeowners are struggling to make the numbers fit.

“Any reduction is a move in the right direction if you ask me, and hopefully these cuts – especially at 95% LTV – will be the key that gets more people into homes.”