Residential mortgage lender, Gen H, has announced its fourth round of rate cuts in as many weeks, continuing its focus on high-LTV products and its New Build Boost offering.
90% and 95% LTV rates are down by 10 bps, while 85% LTV and New Build Boost rates have reduced by 20 bps.
These new rate reductions are available across the lender’s two, three and five-year products and will be live from 5:30pm today.
Gen H's recently-launched New Build Boost offering is a mortgage scheme designed to help bridge the gap between deposit and affordability, unlocking homeownership for more first-time buyers and homemovers. The scheme combines a standard 80% LTV mortgage from Gen H, a 5% deposit from the customer, and a 15% interest-free equity loan supported by Persimmon to help bridge the gap.
Pete Dockar, chief commercial officer at Gen H, commented: “In true Gen H fashion, we’ve moved quickly over the past few weeks – first with reductions to our two-year rates and then our five-year fixes at higher LTVs.
"Now we’re making more significant cuts to high-LTV rates, alongside a reduction to our New Build Boost product rate. These changes, combined with our flexible criteria, are designed to support the growing number of first-time buyers who rely on higher LTVs or innovative schemes to find a foothold on the ladder.
"I’m really pleased to see brokers already taking advantage of these reductions, and I hope many more aspiring homeowners end up with keys in hand as a result.”
