This change applies to all the lender's 2-, 3- and 5-year products at 85% and 90% LTV and are already live for brokers on Gen H's panel.
Rates now begin at 5.70% for a 5-year 85% LTV product with £1499 fee and 5.74% for a 90% LTV product fixed for 2 years with £1499 fee.
Earlier this year, Gen H also made loan-to-income ration changes which meant that borrowers in cases over 85% can borrow 5.5x income and the threshold for its gross income-based LTI cap of 4.49x was reduced to £40,000.
Pete Dockar, Chief Commercial Officer at Gen H, said:
“Every week, we dedicate time to answer one question: can we price down? If there are any reductions we can responsibly make, we will always do so. I think this reduction – which comes as most other lenders are pricing up – demonstrates that. But we do this because even ten basis points, especially at high LTVs, will make a difference for those incremental homeowners – for those just on the precipice. Those are the people we’ll always try to help.”
