Here is the latest release from Gen H (Generation Home). To view our products or for more information and tools you need to control and develop your business, visit our website here or contact the Brilliant Solutions team.
Announcement
Gen H strengthens first-time buyer offering with 90% and 95% LTV rate reductions after a record January
This latest round of targeted 90% and 95% LTV cuts aim to support those with deposit constraints and first-time buyers
LONDON, Monday 19 February – Following a turbulent few weeks for swap rates, fintech lender Gen H has launched reductions in rates designed to positively impact customers requiring higher-LTV products.
These rate drops demonstrate Gen H’s commitment to supporting the needs of all aspiring homeowners – from first-time buyers to home movers and remortgagers – even at higher LTVs.
These reductions are balanced by very slight increases to select products at lower LTVs by up to 5 bps. These rates will be live from 5.30 pm today, Monday 19 February.
Highlights:
- 3- year and 5- year 90% and 95% LTV products reduced by up to 10 bps.
- Some homebuying products selectively increased between 2 and 5 bps
These rate changes follow a record January – the lender also announced it had seen a 134% increase in the volume of applications with income boosters. Of their January applications, over 40% were first-time buyers and a further 24% of applications were aspiring second time buyers looking to get back on to the property ladder once again.
This was paired with one of its highest call volumes since the lender launched in 2020, with many enquiries relating to first-time buyer and JBSP business.
Gen H has continued to dial up their focus on first-time buyers through the latest credit criteria changes. The lender also recently added Experian Boost to its credit decisioning to support customers with thin credit files or scores that fall below its lending thresholds.