Gen H cuts rates for fourth consecutive week

Gen H has announced rate reductions for the fourth time in as many weeks.

The cuts have been made to its high loan to value (LTV) rates.

Reductions are between 10 and 25 basis points (bps).

Changes include:

95% LTV rates have been reducing 15-25bps
90% LTV rates have been reducing 10-15bps
85% LTV rates have been reducing 10-15bps

REASONING

The lender has concentrated its reductions on high-LTV rates to support first-time buyers and others who are more likely to have smaller deposits.

Pete Dockar, chief commercial officer at Gen H, said: “There’s no better way to begin the festive season than with a selection of rate reductions – it’s our gift to our brokers and their clients.

“I’m pleased to see other lenders also making moves in a positive direction. These cuts will especially benefit those with small deposits, but for clients who need a bit more support, brokers should remember that our income booster or deposit booster could help close the gap.”