The cuts include a 30bps reduction to two-year fixed rates up to 80% loan to value (LTV) and a 21bps cut to five-year fixed rates between 85% and 90% LTV.
Two-year fixes available between 80% and 90% LTV have been reduced by 11bps.
The lender’s New Build Boost deal has been reduced by 15bps to 6.39%.
Sara Palmer (pictured), sales and distribution director at Gen H, said: “What better way to kick off summer – or at least a heat wave – than with big rate reductions. It is a priority for our team to move as quickly as we can when swap rates fall so we’re able to support even more aspiring homeowners wherever possible. I hope these cuts mean a new round of happy buyers will have keys in hand before the summer is out.”
For the last two weeks, many mortgage lenders have been gradually trimming rates, lowering the cost of borrowing for homeowners. According to Moneyfacts, the average two-year fixed rate is currently 5.73%. This compares to 4.83% at the start of March, as the conflict began, and 5.83% on 22 April, when rates were still rising.
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