Two-year fixed rates have been reduced by around 50 bps while three-year fixes falling by between 45 to 60 bps. Five-year fixed rates have been cut by between 45 to 56 bps.
A two-year fixed rate at 95 per cent LTV has been reintroduced. The fee-free option is priced at 7.18 per cent or borrowers can pay a £999 fee for a rate of 7.03 per cent.
The lender has also expanded its bundle service, where borrowers can get a further discount on their mortgage rate if they use its conveyancer, Gen H Legal, for their purchase to include homemovers. Previously this was restricted to first-time buyers only.
Homemovers taking the homebuying bundle will receive between a five bps and 22 bps discount on the equivalent standard product.
For example, someone taking the standard two-year fixed rate 80 per cent LTV deal at 6.75 per cent is discounted to 6.53 per cent if they take the homebuying bundle.
Pete Dockar, chief commercial officer at Gen H, said: “We’re delighted to now offer our unparalleled service and innovative products to all home movers with the homebuying bundle – alongside significant rate drops.
Fiona Lumsden, head of legal practice at Gen H Legal, said: “When we launched Gen H Legal, we did so with the intention of creating positive change in the conveyancing industry. I’m delighted that we’re able to act on purchases and sales to create a stress-free, positive homebuying experience for even more people across the UK.”
