Residential mortgage lender Gen H has cut rates across its 2-, 3- and 5-year fixed ranges, with the largest reduction of 25 bps on 2-year fixed rates at 95% LTV. The changes are already live for brokers on Gen H’s panel.
Gen H has reduced its rates as follows:
- 2-year fixed rates at 95% LTV are down 25 bps, with rates from 6.88%
- 2-year fixed rates at 85–90% LTV are down 20 bps, with rates from 6.54%
- 2-year fixed rates at 70–80% LTV are down 10 bps, with rates from 5.94%
- 3- and 5-year fixed rates at 85% LTV and above are down 5 bps, with rates from 6.64%
Gen H’s lowest rate for first-time buyers, home movers and remortgagers is 5.74% on its 2-year fixed £500k+ special product at 80% LTV, with a £1,999 fee. Across its core range, the lowest rate is 5.79% (6.8% APRC) on its 2-year fixed at 60% LTV, with a £1,499 fee. For existing customers, the lowest rate is 5.99% (6.8% APRC) on its fee-free 2-year fixed at 60% LTV.
The Bank of England announces its next rate decision on Thursday 5 November. The Bank Rate has been held at 3.75% throughout 2026, and a rise to 4% is widely expected, with inflation at 3.5%. A rise would be the first since 2023. Money markets are pricing in roughly four quarter-point rises by summer 2027, which has helped push fixed rates up this year even while Bank Rate held.
Around 2.3 million households reach the end of their fixed deals in 2027, according to UK Finance data, and will be refinancing into a market braced for further rises. Gen H’s cuts give buyers and brokers lower fixed rates to secure ahead of Thursday’s decision.
Sara Palmer, Chief Distribution Officer at Gen H, said: “Your First Home put first-time buyers in the spotlight, but home movers, remortgagers and existing properties have all been left out. People saving for a deposit today need help now, so we’ve made our biggest cut at 95% LTV, where deposits are smallest and rates are highest. With the Bank of England expected to increase the base rate on Thursday, mortgage rates at large could move either way – that’s why we’re passing on reductions while we can, and we’ll keep looking for room to go further.”
