The lender also plans to cut fixed rates by up to 0.75% this Friday 16 August.
GE is also cutting rates on two and three-year products and on its loans offered at up to an 80% Loan to Value across the range.
The adverse lender will reduce completion fees across some of the range and introduce a new deal for credit-worthy customers with a limited mortgage history. However, discount and tracker rates have been hiked by up to 0.35%.
Gerry Bell of GE Money Home Lending (pictured) said: “The product enhancements and the expansion of the sales team are aimed at making it easier and quicker for brokers and customers to do business with GE Money Home Lending.”
The changes follow the launch of new adverse lender Magellan on Monday this week, the first lender boldly promoting itself as willing to consider rehabilitated heavy-adverse borrowers since the credit crunch.
