Residential mortgage lender Gen H has announced a fresh round of rate reductions for borrowers with small deposits, marking its fourth set of cuts in as many weeks.

The latest move improves its position in the high loan-to-value (LTV) market and includes a further cut to its recently launched New Build Boost scheme.

The lender has lowered rates by 10 basis points at 90% and 95% LTV, and by 20 basis points at 85% LTV. The New Build Boost product has also been reduced by 20 basis points.

The changes apply to Gen H’s range of two-, three- and five-year fixed-rate products and take effect from 5.30pm on Tuesday 6 May for brokers on panel.

The New Build Boost scheme, introduced earlier this year, is designed to help first-time buyers and homemovers overcome affordability gaps when purchasing new-build homes. It combines an 80% LTV mortgage from Gen H with a 5% customer deposit and a 15% interest-free equity loan supported by housebuilder Persimmon.

Pete Dockar (pictured), chief commercial officer at Gen H, said the lender had moved swiftly to support buyers at the upper end of the LTV spectrum.

He added: “In true Gen H fashion, we’ve moved quickly over the past few weeks – first with reductions to our 2-year rates and then our 5-year fixes at higher LTVs. Now we’re making more significant cuts to high-LTV rates, alongside a reduction to our New Build Boost product rate.

“These changes, combined with our flexible criteria, are designed to support the growing number of first-time buyers who rely on higher LTVs or innovative schemes to find a foothold on the ladder.

“I’m really pleased to see brokers already taking advantage of these reductions, and I hope many more aspiring homeowners end up with keys in hand as a result.”