Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Gen H and Atom Bank Announce New 95% LTV Mortgage Options

Gen H and Atom Bank have introduced new mortgage products aimed at borrowers seeking 95% loan-to-value (LTV) deals. Gen H has reduced rates on its New Build Boost product, while Atom Bank has launched a near prime 95% LTV option for those with light adverse credit history.

Gen H has cut its New Build Boost rate by 15 basis points to 6.14% for the 80% main mortgage. Borrowers are required to provide a 5% deposit, with the remaining 15% covered by a shared equity interest-free loan. According to Gen H, this results in a blended rate of 5.17% across the full 95% borrowed. This rate reduction is part of a wider repricing across Gen H’s range, marking the third round of cuts in three weeks. All two- and three-year fixed rates have been reduced by 15 basis points, while five-year deals up to 80% LTV have been reduced by 10 basis points. Five-year fixed rates at 85% and 90% LTV are down by 5 basis points. Gen H is currently accepting expressions of interest from brokers for its New Build Boost scheme.

Atom Bank has launched a 95% LTV near prime mortgage product for borrowers with a light adverse credit history. Eligibility criteria include no defaults in the last 12 months, no more than one default in the last 36 months (with unsatisfied defaults under £500), no county court judgments (CCJs) in the last 36 months, and no more than one CCJ in the last 37-72 months (with unsatisfied CCJs under £500). Applicants must also have no mortgage arrears in the last 12 months and no more than two months of arrears in the last 13-24 months. Rates for the new 95% LTV near prime products start at 6.59% for a two-year fixed rate, with an arrangement fee of £1,995. Atom Bank has also reduced rates in its existing near prime range (60-90% LTV) by 0.1%, with rates now starting at 5.29%.

These developments may be of interest to letting agents and inventory clerks monitoring mortgage trends and affordability for tenants and prospective buyers.