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Gen H announces rate cuts for FTBs of up to 0.25%

ended 02. December 2024

Gen H has announced it will be cutting high-LTV rates by up to 25 bps to support first-time buyers and others with smaller deposits. The new rates will be live from 5.30 pm, Monday 2nd December. The highlights: 

  • 95% LTV rates reducing by 15 - 25 bps
  • 90% LTV rates reducing by 10 - 15 bps
  • 85% LTV rates reducing by 10 - 15 bps

Newspage asked brokers for their views, which will appear below until 11:00.

4 responses from the Newspage community

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Craig Fish
Director at Lodestone Mortgages
An early Christmas present for first-time buyers is very welcome, so kudos to Gen H for moving in the opposite direction to many other lenders. These cuts are an incentive for those looking to beat the stamp duty deadline changes coming on 1st April 2025.
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Ben Perks
Managing Director at Orchard Financial Advisers
A nice start to the week as Gen H sets out to help those borrowers who need it the most. In the current market, a 0.25% cut feels quite chunky and borrowers will be delighted. A bit of festive cheers finally.
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Simon Bridgland
Broker at Charwin Private Clients
This is a great move by Gen H to reduce their rates on higher loan-to-value products. It comes at the same time as HSBC announces it is reducing across the board on its residential and buy-to-let offerings. This will leave many consumers wondering what's going on, as TSB’s announcement to increase rates at higher loan-to-values came within minutes of Gen H and HSBC reducing. TSB is also temporarily withdrawing its 3-year fixed 90-95% LTV residential products. It's a good job Gen H and HSBC are showing some Christmas spirit as they are ready, willing and able to see out the year with their arm around the UK's first-time buyers.
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Rohit Kohli
Director at The Mortgage Stop
The topsy-turvy world of mortgages continues as Gen H reduces rates and is joined by HSBC across a selection of their products. Meanwhile, TSB increases rates on higher loan-to-value products making it that bit harder for first-time buyers. Its anyone's guess as to what lenders will do next.