Gen H has announced rate reductions for all of its products by up to 65bps.

The new rates are already live for both broker and direct customers.

Rates up to 80% LTV have been cut by up to 23 bps and 85%, 90% and 95% LTV rates have been cut by up to 65 bps.

First-time buyer deals include:

• First-time buyer bundle rates on 2-year fixes at 60%, 70%, 75% and 80% LTVs (with £999 fee) are now 4.84%.
• First-time buyer bundle rates on 5-year fixes at 60%, 70%, 75% and 80% LTVs (with £999 fee) are now 4.57%.

The Gen H first-time buyer bundle refers to the product range launched in March which combines mortgage and legal services under one roof.

Standard rate highlights include:

• Standard 2-year fixes at 60%, 70%, 75% and 80% LTVs (with £999 fee) are now 5.06%.
• Standard 5-year fixes at 60%, 70%, 75% and 80% LTVs (with £999 fee) are now 4.66%.

Gen H has also lowered the rates on its 85%, 90% and 95% LTV products by up to help support buyers with smaller deposits.

Pete Dockar, Gen H chief commercial officer, said: “It’s been a challenging year for aspiring homeowners. We’ve created highly innovative products to help people onto the ladder – but we realise that sometimes the rates continue to be a blocker to homeownership. That’s why we always work to keep our rates as low as we can.

“Today, we’re delighted we’ve been able to substantially reduce our rates – we want people to know that, even when times are tough, we are committed to helping them achieve their goals.”