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 Reduces Rates Following Swap Decreases
Gen H has announced a reduction in all its rates by 10 basis points, effective from 20 July. The lender stated that this move follows a decrease in swap rates, and the reduction is being passed directly on to customers.
Gen H acknowledged recent market volatility, referencing two rate rises in quick succession, but indicated that the latest swap rate decrease has enabled them to offer improved pricing.
Keystone Withdraws Fixed Rate Products
Keystone Property Finance has announced it will withdraw its current fixed rate products from 17:29 today. The lender is preparing to make changes to its rates following recent rate increases from Foundation and Principality Intermediaries.
These developments may be relevant to UK letting agents and inventory clerks monitoring mortgage product changes that could impact landlords and property investors.
Source: Mortgage Strategy