Gen H has reduced rates across its mortgage range for the third time in three weeks, including a 15 basis point cut to its New Build Boost product.

The lender said the changes take the headline rate on New Build Boost to 6.14%.

Because borrowers only pay interest on the 80% mortgage element of the scheme, this equates to an effective blended rate of 5.17%.

New Build Boost combines an 80% mortgage with a 15% interest-free equity loan, enabling buyers to purchase a new-build property with a 5% deposit. The scheme is also available to foreign nationals.

The latest repricing, which took effect on 29 June, includes a 15 basis point reduction across all two and three-year fixed rates, a 10 basis point cut to five-year fixes at 80% loan-to-value (LTV) and below, and a 5 basis point reduction on five-year products at 85% and 90% LTV.

Gen H said the latest changes follow falls in swap rates and mark its third round of rate reductions this month.

The lender is also accepting expressions of interest from brokers who want to advise on the New Build Boost scheme.

According to Gen H, more than £150m of lending has been approved in principle through New Build Boost since its launch in March 2025, with foreign nationals and healthcare workers accounting for a significant proportion of applicants.

Sara Palmer, sales and distribution director at Gen H, said: “We’ve cut rates three times in three weeks, and we’re not done – we’ll keep passing through the benefit of falling swap rates for as long as the market allows.

“This downward rate trajectory is a breath of fresh air after a turbulent few months. But with nearly 1.8 million fixed deals coming up for renewal this year, it matters that lenders move fast to pass through rate reductions – and that’s exactly what we’re built for.”