Gen H cuts mortgage rates by up to 0.30%

Gen H has cut rates across its two, three and five-year fixed ranges by up to 0.30%, with the largest reduction on two-year fixed rates at 85% LTV. 

Two-year fixes at 85% LTV now start from 6.24% following the reductions, with two-year fixes at 90–95% LTV down 20bps, starting from 6.34%.

Three and five-year fixed rates at 85–95% LTV are down 20bps, with rates from 6.44%.

At 60-80% LTV, two and three-year rates have reduced by 10bps to start from 5.69%, with five-year rates down by 9bps to start from 6.19%.

The lender's New Build Boost rate has also decreased by 20bps to 6.69%, for an effective rate of 5.63%.

The cuts apply across Gen H’s core, high loan-to-income, interest-only and existing customer ranges.

Gen H’s lowest rate for first-time buyers, home movers and remortgagers is now 5.64% on its two-year fixed £500k+ special product at 80% LTV, with a £1,999 fee. Across its core range, the lowest rate is 5.69% on a two-year fix at 60% LTV, with a £1,499 fee. 

The US 10-year Treasury yield fell more than 6 bps to 4.884% following the midterm elections as traders priced in reduced deficit spending under a divided government. Brent crude fell almost 9% the same day as traders bet the result would add pressure to end the Iran war. 

Sara Palmer, chief distribution officer at Gen H, said: “It has been another good week in the swap market and we’re thrilled to be cutting our rates for a second week in a row – especially in the lead up to the holiday season. Our largest cuts at 85% to 95% LTV, targeting those buyers with smaller deposits, who might be hoping for a mortgage offer in place for Christmas. Hopefully this swap trend continues, and we’ll keep cutting where we can.”