Gen H has announced a fresh round of rate cuts across its mortgage range, reducing costs for borrowers across both capital repayment and newly launched interest-only products.

Rates on capital repayment mortgages now start from 4.89%, while interest-only products begin at 4.99%. These reductions are already available to brokers on the lender’s intermediary panel.

The lender confirmed that rates at 90% and 95% loan-to-value (LTV) have been reduced by 15 basis points, while those at 60% and 80% LTV have been cut by 10 basis points.

The changes are the latest in a series of adjustments from Gen H aimed at increasing accessibility to homeownership.

The rate cuts follow a recent reduction to Gen H’s New Build Boost mortgage, now standing at 5.95%. Under the New Build Boost model, borrowers pay interest only on the 80% main mortgage, allowing monthly payments to remain in line with traditional 95% LTV products despite the enhanced affordability.

Gen H launched the first phase of its interest-only proposition on 23 June, initially available only to brokers.

Two further stages are expected later this year: phase two will introduce income booster repayment options, and phase three will bring part-and-part products aimed at increasing affordability for borrowers with smaller deposits.

Pete Dockar, Gen H’s chief commercial officer, said: “It’s been an exciting few months, launching New Build Boost and now interest-only products to market.

“We prioritised these launches because we view them as powerful tools for creating incremental homeowners – and every rate reduction we make is designed to have the same effect.

“I’m delighted to be offering more competitive rates, and hope these reductions can support an ever-widening net of our broker partners’ clients.”