Fintech lender, Gen H, has just announced that it is launching a handful of rate reductions up to 7 bps across its with-fee products. Fee-free product rates are unchanged. The lender is also introducing a £1,499 fee for 2- and 5-year 80% LTV products for both its standard and homebuying bundle ranges. These new rates start at 4.99%. The new rates will go live from 5:30 pm this evening, Monday, 4 March 2024. Newspage asked brokers for their views, below.&nbsp;

mortgages

Gen H cuts rates in "a glimmer of light for borrowers"

A week that contains the Spring Budget is sure to be full of ups and downs, but it's nice to start the week with a lender reducing rates. Hopefully a good Budget on Wednesday will pave the way for more lenders to reduce.

Ben Perks

Established in 2021, our aim is to inject some fun and enthusiasm into the world of financial advice. Being completely independent, we are able to look at mortgage products from the whole of the intermediary mortgage market. We have a broad range of insurers under our belt and are relentless in pursuit of the best deal and product to suit your needs! We use the latest technology to streamline processes and ensure matters are actioned as quickly and efficiently as possible.

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A glimmer of light for borrowers as Gen H announces rate drops on their products with fees. A very welcome rate change given the high street increases last week. Hopefully this is a sign of things to come. Gen H are certainly innovators in the mortgage world.

Mark Robinson

“Hi my name’s Mark and I founded Albion Forest Mortgages to help people. I specialise in Key Worker mortgages. Specifically the NHS and Teacher mortgages.

I pride myself on the personal service I offer here at Albion Forest Mortgages, offering friendly, helpful advice.”

Key Workers are a massive part of our every day lives. They are the medical professionals that help us when we need it. They are the Teachers and staff that look after and educate our children. They are the people keeping us safe. We feel so passionately about Key Workers that we don’t charge them broker fee’s for our advice. It’s time to give a little back.

Albion Forest is a family run business based in the New Forest near Southampton, with years of experience in the financial services we can help you get the mortgage you need with the right lender to fit your situation. All our advice is personal for you, meaning you get the right solution, every time!

In what promises to be a week of speculation and frustration, these downward tweaks offer a rare ray of sunshine. I don't expect there to be any major movement from other lenders until after Wednesday's Budget.

Rohit Kohli

The Mortgage Stop was founded with a simple goal in mind: to provide mortgage and protection advice tailored to the unique needs of our clients. We're family-owned and operated, with over 20 years of experience in the industry, and we work hard to remove the stress from the financial side of our clients' purchases. 

A lovely start to March with Gen H dropping rates on a day the sun has finally started to shine on the UK.  We can only hope it shines on the mortgage market during Budget week. Let's hope this just the start of positive news this week for the mortgage and property markets.

Imran Hussain

Imran has worked in the financial services industry since 2014 and is your Award-Winning mortgage and protection specialist. Having worked for a corporate business, he decided there is a better way to do things and set up Harmony Financial Services to help clients take away the stress of buying and moving home away by being their one point of contact every step of the way. He enjoys making the home buying journey as easy, smooth and pain-free as possible for his clients with straight-talking advice. So you'll know where you stand or what you need to do to enable you to purchase the home of your dreams.

Gen H's confidence in their own economic outlook and stability, in reducing some of their rates, has to be commended. They're doing this as other lenders run for the hills. These might only be shortlived reductions so grab them while you can.

Darryl Dhoffer

For years, I have built a legendary reputation helping customers who were turned away elsewhere. Whether it’s complex credit history or unique income streams, I find the 'Yes' where others find a 'No.' As a previous 'Mortgage Broker of the Universe' winner, the demand to take my services mainstream has been overwhelming. I have heard you, and I am stepping up. The Mortgage Geezer is available and ready to serve the nation."

Swap rates seemed to have hit a peak at the end of last week, so we will now enter a stage of mortgage lenders dipping their toe back in the market to attract some business, before withdrawing once targets are met. The Budget on Wednesday has the opportunity to disrupt this trend. Let's hope it is postively recieved and this will be key to how the next few months play out.

Elliott Culley

Established in 2021 we are an expert Mortgage, Protection & Specialist Lending Broker. We are directly authorised and also offer a mortgage network proposition for appointed representatives in the mortgage market. We are based in Hampshire, although we offer our services nationwide. We understand the challenges our prospective clients face and have the experience and expertise to help guide them through the complex mortgage market.

Gen H cuts rates in "a glimmer of light for borrowers"

6 responses from the Newspage community
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Ben Perks

Managing Director at Orchard Financial Advisers

Mark Robinson

Managing Director at Albion Forest Mortgages

Rohit Kohli

Director at The Mortgage Stop

Imran Hussain

Director at Harmony Financial Services

Darryl Dhoffer

Founder at The Mortgage Geezer

Elliott Culley

Director at Switch Mortgage Finance

6 responses from the Newspage communityCopy all

6 responses from the Newspage community
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