Residential mortgage lender, Gen H, has reduced rates across its two, three and five-year fixed mortgage ranges following a fall in swap rates, with the largest cuts at 95% LTV.
Across its fee-free product range, two-year fixed rates are down by 14-30bps, with the largest cuts of 30bps at 95% LTV. At 60% LTV, two-year rates now start from 6.09% following a cut of 0.29%.
Three-year fee-free products are down by 10-22bps at most LTVs from 60% to 95%, while five-year rates are down by up to 12bps at 90-95% LTV.
For products with fees, rates have reduced by up to 0.21%.
Elsewhere in the range, Gen H has announced 'targeted increases' of up to 13bps across 85% LTV products and up to 16bps across parts of the retention range.
Gen H's lowest rates for new customers are now 5.79% for a two-year fixed rate at 60% LTV with a £1,499 fee, rising to 5.94% at 80% LTV.
The reductions come as fixed rates across the market continue to rise, with Moneyfacts reporting the average five-year fixed rate reaching 6% on 5th October, its highest since September 2023.
Sara Palmer, chief distribution officer at Gen H, said: “Swap rates have come down ever so slightly and we're passing that on, with our biggest reductions for buyers with the smallest deposits. Many of our borrowers need the flexibility that our criteria and income booster give them, and these cuts make that borrowing more affordable.”
