Gen H cuts 85-90% LTV mortgage rates

Gen H has cut its mortgage rates at 85-90% LTV as part of product changes across its range. The changes are live for brokers on the lender’s panel.

Gen H reduced its 85-90% LTV mortgage rates as follows:

• 2-year fixed rates fall by 20 bps, with rates from 6.74%
• 3-year fixed rates fall by 5 bps, with rates from 6.69%
• 5-year fixed rates fall by 5 bps, with rates from 6.69%

The lender also raised some of its 70-80% LTV mortgage rates:

• 2-year fixed rates rise by 10 bps, with rates from 6.04% (5.84% on the £500k+ special product at 80% LTV)
• 3-year fixed rates rise by 5 bps, with rates from 6.29%
• 5-year fixed rates rise by 5 bps, with rates from 6.33%

Gen H gives brokers on its panel two full business days’ notice of any rate change, so they have time to lock in a lower rate where possible.

The changes come amid repricing across the market. Moneyfacts attributes pressure on swap rates to the escalating US-Iran conflict, which has reignited inflationary fears. Volatility is likely to continue through the Autumn Budget.

Sara Palmer, chief distribution officer at Gen H (pictured), said: “Markets have been volatile lately, so we’ve done what we can to support borrowers with smaller deposits even amidst these upward price pressures. Last year, the pre-Budget jitters drove a good deal of uncertainty in the market; this year it’s geopolitical tension. We will look to price down further as soon as we can, as aspiring homeowners could really use a break.”