Generation Home (Gen H) has made rate reductions to support buyers with smaller deposits.
The lender has reduced its two-year 90% and 95% loan-to-value (LTV) rates by up to 15 basis points, while all three-year products have been lowered by as much as 15bps.
In addition, Gen H has withdrawn its 60% and 70% LTV rates and increased its five-year 90% LTV rate, with a fee of £1,499, by 5bps.
The new rates are live for brokers on the lender’s panel.
Gen H chief commercial officer Pete Dockar says: “It’s always important to look for ways to support that cohort of aspiring homeowners who are the most underserved by the wider market: those with small deposits.”
“Saving a deposit is a gargantuan task in today’s economy, we’re doing all we can to support prospective buyers and keeping mortgage costs as low as we can is an important part of that.”
Elsewhere, Molo Finance has reduced its two- and five-year fixed buy-to-let (BTL) rates by 12bps.
The digital mortgage lending platform has cut BTL rates for UK residents, with two-year fixed rates starting from 3.13% and five-year fixed rates starting from 4.73%.
Specialist product rates for multi-unit freehold buildings, houses of multiple occupancy, new build and investor-led properties start from 3.38% on two-year fixed rates and 4.98% on five-year fixed rates.
Rates for non-UK residents remain unchanged, starting from 5.99%, while expat rates start from 5.24%.
Molo distribution director Martin Sims comments: “We appreciate how important it is for brokers to access competitive and stable financing for their clients. This latest rate reduction reinforces our commitment to remain competitive and demonstrates a prompt response to the improving market conditions.”
