Gen H has launched a limited-edition mortgage product for borrowers seeking loans above £400,000, alongside a further round of rate reductions across its higher loan-to-value range.

The residential mortgage lender has introduced a two-year fixed-rate product for borrowers with a maximum 60% loan-to-value (LTV), priced at 4.89% with a £1,999 fee.

The new limited-edition rate is available on mortgage loans above £400,000 and is aimed at borrowers looking to purchase larger properties or homes in higher-value areas.

Alongside the launch, Gen H has reduced rates across its higher LTV mortgage range by up to 10 basis points.

All 95% LTV products have been reduced by 10 basis points, while all 85% and 90% LTV products have been cut by five basis points. Products offering loan-to-income multiples above 4.49 times at 85%, 90% and 95% LTV have received an additional five basis point reduction.

The lender said the changes are intended to support both first-time buyers with smaller deposits and existing homeowners looking to move up the housing ladder.

Gen H highlighted the affordability pressures facing buyers in London and the South East, where higher property values can make it more difficult for borrowers to secure larger homes.

Sara Palmer (pictured), sales and distribution director at Gen H, said: “This discounted product will surprise a lot of people, because Gen H is so often thought of as a first-time buyer lender.

“But this is actually a great example of the Gen H ethos. Our team saw an opportunity to help this segment of buyers – next-time buyers, buying a home for the long-term – and right away, we knew we wanted to go for it.

“This rate won’t be around forever, but while it is, we hope it helps buyers lock in the family forever home of their dreams.”

The changes follow an earlier round of pricing reductions by the lender and expand its proposition across both higher and lower LTV segments of the market.