Gen H has made significant reductions across its two and five-year product ranges, reducing rates by nearly 20 bps.

Rates on two-year fixes at 75% LTV with £999 fee have been reduced by 18 bps to 4.79%, while Rates on two-year fixes at 80% LTV with £999 fee have been reduced by 10 bps to 4.87%.

Meanwhile, rates on two-year fixes at 90% LTV with £999 fee have been reduced by 5 bps to 5.25%.

Gen H have also introduced its first sub -5% five-year fixed rate (4.99%) since the summer of 2022.

Pete Dockar, Gen H commercial director, said: “Last week, we announced our decision to replace our SVR with a reversionary tracker rate to provide fairer, more transparent mortgages for our customers. Further driving rates down today demonstrates our total commitment to this customer-first approach. We are delighted to continue offering these market-leading rates, and look forward to helping even more buyers and remortgagers realise their homeownership dreams in 2023.”