Gen H has lowered rates across its product range by up to 0.2%, with the largest cuts applied to three-year fixed rates.
Gen H has reduced three-year fixed rates at lower loan-to-value (LTV) tiers by 0.2%, and its two- and five-year fixed rates at low LTV have fallen by 0.18%.
The lender said that more brokers were opting for three-year fixed rates, which it said reflects the “uncertainty in the market”, with homeowners wanting shorter terms but finding two-year fixed rates “too costly”.
Pete Dockar (pictured), Gen H’s chief commercial officer (CCO), said: “We’re all relieved to see swap rates moving in a positive direction following the Bank of England’s decision to hold rates last week.
“Affordability is still the greatest limitation for aspiring homeowners in this country, along with deposit challenges, which themselves bring about affordability limitations, so it’s critical we take every opportunity we can to reduce our rates, even if it’s only for a week at a time. I’m sure the homeowners who benefit from these lower rates agree, and that’s what matters.”
Gen H recently changed to become an intermediary-only lender last week, with Dockar saying in an interview with this publication that this will allow it to deliver more propositions to the market.
The lender opened to the broker market in 2021, and has more than 16,000 brokers on its panel currently.
Gen H has streamlined its affordability on its income booster deals and released a product switching journey for brokers.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
