Gen H has announced further rate cuts across its mortgage range, including its recently launched interest-only products.
90% and 95% LTV rates have gone down by 15 bps and 60% and 80% LTVs rates have reduced by 10 bps
This means rates now start at 4.89% for capital repayment products and 4.99% for interest-only.
These cuts follow significant reductions to the lender’s New Build Boost rate, which now stands at 5.95%. Because interest is only charged on the 80% main mortgage, monthly payments with New Build Boost are usually comparable to those paid with standard 95% LTV mortgage products.
The first phase of Gen H’s interest-only proposition launched on 23rd June to the lender’s intermediary panel. Phase 2, which allows the use of an income booster as a repayment vehicle, and phase 3, part-and-part products intended to dial in affordability even for small deposits, are due to launch later this year.
Pete Dockar, chief commercial officer at Gen H, said: “It’s been an exciting few months, launching New Build Boost and now interest-only products to market. We prioritised these launches because we view them as powerful tools for creating incremental homeowners – and every rate reduction we make is designed to have the same effect. I’m delighted to be offering more competitive rates, and hope these reductions can support an ever-widening net of our broker partners’ clients.”
