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Gen H cuts rates on products up to 80 per cent LTV
Gen H said it had lowered the interest rates by as much as 15 basis points on all of its products up to 80 per cent loan to value (LTV) for first-time buyers and its standard range.
The new lowered rates for first-time buyers include two-year with fee products at 60, 70, 75 and 80 per cent LTV reduced to 4.64 per cent. Meanwhile, five-year with-fee products at 60, 70, 75 and 80 per cent LTV have been reduced to 4.45 per cent.
The lender’s first-time buyer bundle includes conveyancing with Gen H Legal and free valuations in an effort to create a seamless homebuying process, it said.
Pete Dockar, Gen H commercial director, said: “The launch of the first-time buyer bundle last week realises our vision of ‘homebuying all under one roof’, a seamless, simple buying experience for those buying their first homes. This, partnered with our rate reductions, demonstrates our commitment to keeping our prices fair and accessible to as many aspiring homebuyers as possible.”
Gen H also lowered rates for its standard range, with two-year with-fee products at 60, 70, 75 and 80 per cent cut to 4.99 per cent and five-year with-fee products at 60, 70, 75 and 80 per cent LTV cut to 4.59 per cent.
The company said it had also integrated its affordability calculator with L&G’s SmartrFit tool to help brokers figure what their clients could borrow.
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It has been a busy first quarter for Gen H. Not only has it launched its first-time buyer bundle but the firm broadened its intermediary distribution with a partnership with Finova Payment and Mortgage Services as well as joining Paradigm’s lender panel.