Gen H has trimmed its prices on two-, three- and five-year products, with cuts focusing on high loan-to-value (LTV) products and its New Build Boost offering.

Reductions have been made to its 90% and 95% LTV rates by 10 basis points, while 85% LTV rates have been cut by 20bps.

In addition, New Build Boost rates have been trimmed by 20bps.

Gen H recently launched New Build Boost, which combines a standard 80% LTV mortgage from Gen H, a 5% deposit from the customer, and a 15% interest-free equity loan supported by Persimmon to help bridge the gap.

The lender’s chief commercial officer Pete Dockar states: “In true Gen H fashion, we’ve moved quickly over the past few weeks – first with reductions to our two-year rates and then our five-year fixed at higher LTVs. Now we’re making more significant cuts to high-LTV rates, alongside a reduction to our New Build Boost product rate.”

“These changes, combined with our flexible criteria, are designed to support the growing number of first-time buyers who rely on higher LTVs or innovative schemes to find a foothold on the ladder.”

Elsewhere, MT Finance has lowered rates across its buy-to-let (BTL) mortgage range, offering a sub-3% rate and reductions of up to 0.24%.

The cuts mean rates will now start from 2.99% for its two-year fixed standard residential BTL Tier 1 product, down from the previous rate of 3.19%, and 3.65% for its two-year fixed standard residential Tier 2 product.

The interest coverage ratio (ICR) stress testing remains at 125%.

MT Finance director of mortgages Marylen Edwards says: “We are delighted to introduce this significant rate reduction, now offering a buy-to-let product with a rate below 3%. At a time when landlords and property investors are seeking value and stability, breaking through the 3% barrier reflects our confidence in the market.”