Gen H has made rate cuts across its range, including its recently launched interest only products.
Rates now start from 4.89% for capital repayment products and 4.99% for interest only.
The lender’s 90% and 95% loan-to-values (LTVs) rates have been cut by 15 basis points while 60% and 80% LTVs have gone down by 10bps.
These rates are already available to brokers on the lender’s intermediary panel.
Gen H chief commercial officer Pete Dockar says: “It’s been an exciting few months, launching New Build Boost and now interest only products to market.”
“We prioritised these launches because we view them as powerful tools for creating incremental homeowners – and every rate reduction we make is designed to have the same effect. I’m delighted to be offering more competitive rates, and hope these reductions can support an ever-widening net of our broker partners’ clients.”
The first phase of Gen H’s interest only proposition launched on 23 June to the lender’s intermediary panel.
Phase 2, which allows the use of an income booster as a repayment vehicle, and phase 3, part and part products intended to dial in affordability even for small deposits, are due to launch later this year.
Elsewhere, London Credit has made rate reductions across its semi-commercial and commercial bridging range.
Rates have been cut by up to 72bps per annum as part of a new summer offer aimed at helping brokers support more borrowers in need of short-term finance.
The rate changes apply to both 65% and 60% LTV tiers on commercial deals, as well as 70% and 65% LTV on semi-commercial products.
The summer offer follows the rate reductions across its product range announced earlier in June.
London Credit credit manager Marios Theophanous comments: “We have noticed an increase in demand for bridging loans to support the purchase and refurbishment of mixed-use and commercial properties.”
“In response, we are introducing our Summer Offer, which gives brokers even sharper rates across our semi-commercial and commercial range, with cuts of up to 72 basis points per annum. In practical terms, this could mean lower costs for borrowers managing larger projects or working to tight timelines.”
