Another batch of lenders reduces mortgage rates

“I’m delighted to introduce these rate cuts off the back of last week’s base rate move, not just for the benefit of first-time buyers or home movers but for our existing customers as well,” said Pete Dockar (pictured centre), chief commercial officer at Gen H.

“We’ve also taken this opportunity to reduce our standard variable rate and base rate trackers, because in this environment, it’s critical that lenders support all customers, including those who choose to remain on revert or variable deals.”

Meanwhile, The Mortgage Works (TMW) has lowered rates by up to 45bps across its buy-to-let range.

TMW’s new rates start from 3.49% for a two-year fixed rate at 65% LTV with a 3% fee. Other notable reductions include a 25bps cut on its five-year fixed rate for limited company buy-to-let at 70% LTV, bringing the rate down to 4.59%.

“We are pleased to announce more rate cuts as it further demonstrates our ongoing commitment to brokers and landlords,” said Joe Avarne (pictured right), senior manager of buy-to-let mortgages at The Mortgage Works. “These latest reductions make us one of the most competitive buy-to-let mortgage lenders in the sector with rates now starting from 3.49%.”