Gen H has cut residential fixed-rate offers by up to 27 basis points for the second time in a fortnight.
The fintech lender says that after last week’s reductions, selected home loans have come down by as much as 57bps over the period.
Highlights from the firm’s latest round of rate cuts include:
- 80% loan to value two-year and three-year fixed-rate deals come down by 17bps, five-year rates fall by 15bps
- 85% LTV come down by 20bps across all tenors
- 90% LTV two-year and three-year fixed-rate deals come down by 20bps, five-year rates fall by 23bps
- 95% LTV two-year and three-year fixed-rate deals come down by 25bps, five-year fall by 27bps
Gen H chief commercial officer Pete Dockar says: “This week, we’ve had two opportunities to cut our rates and pass the benefits onto aspiring homeowners, and we’ve jumped on both.
“We’re glad to deliver these lower rates to both our direct and broker customers, and we remain committed to this approach.”
The lender reminds brokers that it offers an income booster deal, its version of a Joint Borrower Sole Proprietor mortgage, that allows borrowers to add a family member to the loan, to lift the size of the amount borrowed.
