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Gen H 'spreading the love' as lender reduces rates by up to 22bps

ended 07. January 2025

Gen H has today announced it is reducing rates by up to 22 bps across its standard and homebuying bundle ranges. The changes (highlights below) will go live from later today, Tuesday 7th January 2025, at 5:30 pm. Newspage asked brokers for their views, below.

  • 2- and 3-year 60% LTV reducing by 20 bps
  • 2- and 3-year 70% LTV reducing by 20 bps
  • 2- and 3-year 90% LTV reducing between 19 - 22 bps
  • 3-year 95% LTV reducing by 15 bps

4 responses from the Newspage community

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Dariusz Karpowicz
Director at Albion Financial Advice
Gen H is making a remarkable entrance into 2025 with some rather appealing reductions across their range, and rather refreshingly, they're not just focusing on the lower LTV borrowers but spreading the love right up to the 95% mark.
These moves are particularly interesting as they come hot on the heels of other smaller lenders' rate cuts, suggesting a potential shift in market dynamics. With first-time buyers racing against the clock to beat the April Stamp Duty deadline, this timing couldn't be better - and if the banking giants are watching (which they surely are), we might see them forced off their comfortable perches to join the rate-cutting festivities. The question is, will they move with the speed of a British queue at teatime, or will they need a bit more prodding from these nimbler competitors?
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Justin Moy
Managing Director at EHF Mortgages
Another smaller lender is making a significant impact within the market. Any rate cuts provide confidence to borrowers and mortgage professionals, but to see cuts even for those with smaller deposits or less equity is supportive of the current push for buyers before the Stamp Duty deadline at the end of March. More applause for the smaller lenders this week.
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Daniel Hobbs
CEO at New Leaf Distribution
The rate cuts are now starting to come in earnest, which will be a boost to UK's borrowers. In the current climate, every penny counts. With reductions from Gen H and the likes of Market Harborough Building Society, it may only be a matter of time before bigger lenders make their move.
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Ken James
Director at Contractor Mortgage Services
All rate cuts are welcome as first-time buyers race to get deals completed before April 1. If these smaller lenders start to gain more of a share of the market, the bigger lenders may also start to feel the need to make more cuts which could make for an intriguing first quarter of 2025.