Gen H raises rates plus repricing at BoI, Landbay and Foundation Mortgage Finance Gazette

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Gen H is raising some of its rates tomorrow by up to 29 basis points while also  lowering prices on retention deals.

At the same time, Bank of Ireland and Landbay have announced rate cuts and Foundation is withdrawing a number of products.

Gen H says it is putting up rates on some deals “to protect our customer service levels” after a busy week.

The biggest increases are to its homebuying bundle deals, which are rising by up to 29bps.

Rates in its standard range are increasing by 10bps.

The lender’s retention rates are dropping by 15bps so that five-year fixes at 90% LTV now start from 4.82%.

Bank of Ireland is cutting rates on residential deals at 75% LTV tomorrow by up to 20 bps.

Following the changes, a two-year fix with a £1,495 fee and £300 cashback will come down from 4.55% to 4.35%.

Landbay has reduced rates across its small houses in multiple occupation and multi-unit freehold block range.

Plus the lender has cut costs on some of its five-year fixed rates in its standard range.

A two-year fix in its small HMO/MUFB range at 75% LTV is now 4.04% with a 6% fee and the five-year equivalent is now 4.99% with the same fee.

Foundation is withdrawing a number of products, some to reprice and others that will not be replaced.

The products that are being permanently withdrawn include a number of F1 limited edition two and five-year fixes for remortgage at 80% and 85% LTV.

It is also withdrawing a pair of two-year fixes in its F1 Professionals range at 75% and 85% LTV.

The products that are being repriced include several F1 Professionals five-year deals at 75% and 85% LTV.

It will also reprice its buy-to-let F2 Large Portfolio five-year fix at 70% LTV.