The new reductions are up to and including 90% loan to value (LTV) products. The rates are for broker and direct customers.
In addition, brokers and direct customers can access the homebuying range’s preferential rates when they bundle their Gen H mortgage with purchase conveyancing from Gen H Legal, which is the lender’s independent conveyancing arm.
The reducations mean that five-year homebuying bundle rates at 60 per cent, 70 per cent, 75 per cent and 80 per cent LTV are now at 5.38 per cent with a £999 fee, this is down from 5.53 per cent. Without a fee, the bundle is now 5.44 per cent, down from 5.59%.
The two-year homebuying bundle rate at 60 per cent, 70 per cent, 75 per cent and 80 per cent LTV are now 5.90 per cent, with £999 fee down from 6.10 per cent and 6.05 per cent without a fee, down from 6.25 per cent.
Pete Dockar, Gen H chief commercial officer, said: “We’re utterly dedicated to helping our customers find their place on the property ladder. Keeping mortgage costs as low as we can is central to this, so we’re delighted we could move quickly to implement further rate reductions today.
“We’re ready to support even more aspiring buyers and homemovers in 2023 with our competitive pricing and innovative features.”
