The Gen H product range will include sub-4% loans when its latest round of rate cuts come to market tomorrow (21 December).  

The specialist lender will launch a 3.94% interest rate for its five-year 60% loan-to-value homebuying bundle.   

The firm’s homebuying bundles offer discounted mortgage rates and free valuations when borrowers use the firm’s legal and conveyancing services.      

Its standard range loan, with no product fees, over five years at 60% LTV, is 3.99%.  

The business says these offers are “the most affordable residential rates since the beginning of Liz Truss’s term as Prime Minister”.  

Mortgage rates climbed after Truss’s Chancellor Kwasi Kwarteng presented the government’s unfunded tax-cutting mini-Budget last September.  

Other deal highlights, which take effect at 8.30pm tomorrow, include:  

• Five-year rates on with-fee products up to and including 80% LTV are all sub-5%  
• Cuts across all other products of up to 15 basis points  

The lender adds that applicants can add up to six incomes including their own to a mortgage, raising the amount they can afford to borrow.  

It adds that these income boosters – close family members – can contribute to monthly payments “or just stay on standby”.  

Gen H chief commercial officer Pete Dockar says: “2023 started with a bang at Gen H, when we were the cheapest residential lender in the market. I’m delighted to end the year in much the same way.   

“Our mission is to help more aspiring buyers access the life-changing milestone that is homeownership, and we hope these rates will be a welcome gift to many this holiday season.”