Home Property Finance & InvestmentMortgages Finally some joy for borrowers as Fintech lender reduces rates by up to 0.25%

Finally some joy for borrowers as Fintech lender reduces rates by up to 0.25%

11th Mar 24 4:46 pm

Fintech lender, Gen H, has just announced rate cuts of up to 0.25%, in contrast to the increases announced today by larger higher street lenders.

Newspage asked brokers for their thoughts on why Gen H are going one way while other lenders are going the other.

Stephen Perkins, managing director at Yellow Bricks Mortgages said, “Gen H are fast becoming beloved by brokers and borrowers for their common-sense approach to lending and their intention to price products as fairly as possible for borrowers. Take a bow Gen H.”

Akhil Mair, director at Our Mortgage Broker said, “It’s refreshing to see Gen H taking a different approach by announcing rate cuts of up to 0.25%, especially when many other major banks are going in the opposite direction with rate increases.

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“Their commitment to offering lower rates will undoubtedly be welcomed by all, providing individuals and families with more affordable options when it comes to securing mortgages and managing their finances.

“This proactive step from Gen H reflects a customer-centric approach and sets a positive example for the banking industry as a whole.

“It’s encouraging to see a focus on providing value and flexibility to customers during these challenging times.”

Rohit Kohil, director at The Mortgage Shop said, “With so many of the major lenders putting up rates today, it’s welcome news that an industry innovator like Gen H breaks the pattern by reducing rates.

“Much kudos to Gen H for this but even more questions need to asked of the likes of Santander, NatWest and Co-op who have all upped rates for a reason no one can fathom.”

Justin Moy, managing director at EHF Mortgages, said, “It’s great that Gen H have stirred the market with an announcement of rate cuts as opposed to rises.

“Whilst not a large mortgage lender, their innovation and speed to make positive change is welcome, and hopefully this will act as a catalyst for other lenders to follow in the coming days.”

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