"It seems that the fall in inflation from 8.7% to 7.9% has had a positive effect on swap rates which have decreased in the last day."
LiveMore and Gen H have both announced reductions of up to 0.55% and 0.60% across their mortgage ranges.
LiveMore has lowered rates across selected mortgage products by up to 55 basis points across its retirement interest-only, standard interest-only and capital & interest mortgages.
Earlier this week LiveMore launched its 5+5-year fixed rate mortgage, which is a 10-year fix with no early repayment charges after year five, meaning borrowers are free to leave without penalty. The rates on the 5+5 products now starts at 6.94% down from 7.04%, while Fixed for Life rates are down 25 basis points starting at 6.94%.
Gen H has cut rates by up to 60 bps and has launched an expanded homebuying bundle – now designed to support the needs of first-time buyers and home movers in England and Wales.
The homebuying bundle builds on the lender’s first-time buyer bundle, which launched to the lender’s broker panel earlier this year, and offers discounted rates when customers get their mortgage and legals through Gen H and Gen H Legal, the lender’s independent conveyancing arm.
Tim Wellard, product manager at LiveMore, commented: “It seems that the fall in inflation from 8.7% to 7.9% has had a positive effect on swap rates which have decreased in the last day. Consequently, we have been able to reduce rates on our mortgage products, which are often taken by people who the high street ignores because they are approaching or beyond retirement age.”
Pete Dockar, chief commercial officer at Gen H, said: “Earlier this year, we saw tremendous uptake of our groundbreaking first-time buyer bundle – proving that an “all under one roof” approach to homebuying resonates deeply with this country’s aspiring owners. We’re delighted to now offer our unparalleled service and innovative products to all home movers with the homebuying bundle – alongside significant rate drops, no less! The dream of a seamless, end-to-end homebuying experience is here”.
Fiona Lumsden, head of legal practice at Gen H Legal, added: “When we launched Gen H Legal, we did so with the intention of creating positive change in the conveyancing industry. There is so much value in working with a supportive, proactive conveyancer, and the success of the first-time buyer bundle shows that. Now, I’m delighted that we’re able to act on purchases and sales to create a stress-free, positive homebuying experience for even more people across the UK.”