Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Gen H Announces Mortgage Rate Cuts of Up to 30bps on Selected Products
Gen H has announced reductions to mortgage rates of up to 30 basis points (bps) on selected two-year and five-year products. The changes will take effect from 5:30pm on Monday, 25 May.
The lender confirmed that its two-year rates at 60%–80% loan-to-value (LTV) will decrease by 30bps. Two-year products at 80%–90% LTV will see a reduction of 11bps. Additionally, five-year rates at 85%–90% LTV will be cut by 21bps.
Gen H also stated that its New Build Boost rate will drop by 15bps to 6.39%, resulting in an effective rate of 5.38%.
These changes may be relevant to letting agents and inventory clerks monitoring mortgage product trends and affordability for clients involved in property transactions.
Source: Mortgage Strategy