Gen H cuts rates by up to 25bps in “a welcome ray of sunshine” for borrowers

"Unlike some lenders, Gen H appears to be looking beyond the Budget and considering the broader economic landscape. Unless the Budget delivers an exceptionally negative response from the markets, we can expect another rate cut from the Bank of England in November, which is reflected in their strategy. It’s also encouraging to see a lender prioritising support for borrowers who need it most, particularly those with smaller deposits."

"It looks like Gen H didn't get the doom-and-gloom memo about the Budget. While other lenders are playing it cautious, they're boldly slashing rates faster than a Black Friday sale. This maverick move to cut rates across their higher LTV products by up to 25 basis points is particularly interesting. It's a clear vote of confidence in the market, especially for first-time buyers who typically need those higher LTV mortgages. The timing is fascinating - just as most lenders are pricing up due to Budget jitters, Gen H zigs while others zag. Either they know something we don't, or they're making a calculated gamble that the Budget won't be the horror show some are predicting. Either way, this rate-cutting spree is a welcome ray of sunshine in what's been a cloudy mortgage market lately."

"The clocks go back by one hour this weekend, reducing daylight viewing time for prospective buyers. As we approach Christmas, the market is becoming less active, with many consumers awaiting the outcomes of the upcoming Budget, which could be decisive for those currently hesitant to act. At least Gen H is making an effort to fill their Christmas stockings early with these rate cuts."

"Gen H have had high interest rates for a while so to see them reduce when other lenders have increased is not overly significant. Recent increases in SWAP rates will not have affected Gen H as much as the lenders who were being aggressive with their rate cuts. This is probably also a business decision to try and attract more borrowers."

"Despite being impacted by market movements much harder than the big boys, it seems like smaller lenders like Gen H are more confident in the market and able to look at ways to help borrowers rather than protect their bottom line as the first priority. The Budget can't come soon enough to put all the speculation to bed."

"Twice within the space of a week, those needing to borrow at a higher loan-to-value will feel the warm glow that a generous reduction of fixed interest rates can give. While some lenders are appearing to feather their own nests by increasing their rates, Gen H are handing out hot deals keeping borrowers warm into the New Year."

"Gen H buck the trend of rising rates ahead of the Autumn Budget. They’ve shown a real intent to lend and an eagerness to pick up business when others are being cautious. It’s great to see and helps to fuel the optimism that once this Budget is out the way, normal service will resume."

"As more and more borrowers seek to manage household finances, rate reductions on mortgage costs are always going to be welcome. As the biggest and most important expense, it helps to know what you will pay into the future. This news suggests Gen H are seeking to attract new business in a competitive market."