For remortgage customers, the lender has cut selected five-year fixed rates by up to 40bps. The largest reduction brings an 85% loan-to-value (LTV) product down from 5.74% to 5.34% with a £999 fee. A 75% LTV five-year fixed rate has fallen by 28bps to 5.14%.
For purchase customers, two-year fixed rates at 85% LTV have fallen by up to 21bps, with rates now starting from 5.29% with an £899 fee.
Five-year fixed rates have also been cut, including a reduction of 32bps on selected 75% LTV products to 4.98% with an £899 fee.
Two-year remortgage rates have also been reduced, with a 60% LTV Premier product falling by 6bps to 4.96% with a £999 fee.
Elsewhere, a two-year tracker rate available for purchase and remortgage customers at 85% LTV has fallen by 14bps to 4.6%, while a Premier two-year tracker at 60% LTV has increased by 13bps to 4.37%.
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Gen H lowers rates
Gen H has reduced mortgage rates by up to 30bps across its two-, three- and five-year fixed rate ranges.
The largest reduction is on its two-year fixed products at 85% LTV, which have been cut by 30bps to start from 6.24%.
Two-year fixed rates at 90-95% LTV have been reduced by 20bps, with rates now starting from 6.34%. Three- and five-year fixed rates at 85-95% LTV have also been cut by 20bps, with rates starting from 6.44%.
At lower LTVs, two- and three-year fixed rates between 60% and 80% LTV have fallen by 10bps to start from 5.69%, while five-year fixed rates in the same LTV bracket have been reduced by 9bps to start from 6.19%.
Gen H’s lowest rate for first-time buyers, homemovers and remortgagors is now 5.64%. This is available on a two-year fixed £500,000-plus special product at 80% LTV, with a £1,999 fee, following a 10bps reduction.
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 [are] at 85-95% 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.”
