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 Reduces Mortgage Rates by Up to 30 Basis Points

Gen H has announced mortgage rate reductions of up to 30 basis points across its product range. The changes include cuts to fixed rate and shared equity deals, affecting a variety of loan-to-value (LTV) bands.

The lender has reduced its two-year fixed rates by 30 basis points for loans up to 80% LTV. Five-year fixed rates between 85% and 90% LTV have been cut by 21 basis points. Two-year fixed rates available between 80% and 90% LTV have been reduced by 11 basis points.

Gen H’s New Build Boost shared equity deal has also seen a reduction, with the rate lowered by 15 basis points to 6.39%.

These changes come as many mortgage lenders have been gradually lowering rates over the past two weeks. According to Moneyfacts, the average two-year fixed rate is currently 5.73%.

For letting agents and inventory clerks, these rate reductions may influence demand for rental properties and new build homes, as lower mortgage costs can affect tenant movement and property transactions.