Gen H has announced a series of rate adjustments following the latest Monetary Policy Committee meeting, with a focus on making homeownership more accessible for buyers with low deposits.
Gen H has made rate reductions of up to 15 basis points (bps) across several products, specifically:
- Two-year fixed rates at 90% and 95% loan-to-value (LTV) reduced by up to 15bps
- All three-year fixed products reduced by up to 15bps
- Five-year fixed at 90% LTV (£1,499 fee) increased by 5bps
- 60% and 70% LTV products withdrawn
To further support affordability, Gen H’s income booster product allows an additional applicant — such as a family member — to join the mortgage without being added to the property deeds. This feature increases borrowing potential while keeping ownership in the primary buyer’s name.
From February 2025, income boosters can now live in the property they help purchase, provided they take independent legal advice and sign a waiver at their own expense. Gen H states this added flexibility supports intergenerational living and enables siblings or relatives to buy together as a stepping stone onto the property ladder.
Pete Dockar (pictured), chief commercial officer at Gen H, said the lender is committed to helping underserved buyers.
He added: “It’s always important to look for ways to support that cohort of aspiring homeowners who are the most underserved by the wider market: those with small deposits.
“Saving a deposit is a gargantuan task in today’s economy, and we’re doing all we can to support prospective buyers. Keeping mortgage costs as low as we can is an important part of that.”
