Generation Home makes fixed mortgage rate reductions – how do they compare?

The changes include reductions to its two and five year fixed offers.

Generation Home reduced a range of its fixed rate mortgage options by up to 0.30% yesterday.  

The decision comes after the lender made several changes to its product range last week. Notably, it set its revert rate to 6.5% in this raft of changes.

“Last week, we announced our decision to replace our SVR with a reversionary tracker rate to provide fairer, more transparent mortgages for our customers,” explained Pete Dockar, Commercial Director at Generation Home.

The reductions yesterday saw Generation Home make reductions to its two- and five-year fixed rate offers. In fact, the lender now offers a five-year fixed rate below 5%, the first time it’s listed this type of deal on the market since last summer.

However, there are several other lenders on the market which already offer rates below this threshold for similar terms.

These include Yorkshire Building Society, NatWest and MPowered Mortgages, to name a few. While you can view Generation Home’s offer in more detail below, you can compare it to other providers’ deals by using our charts.

Despite the latest reductions, none of Generation Home’s mortgages appear on the Moneyfacts Best Buy tables. However, some of these new rates are among the lowest on the market.

For example, it now offers a rate of 5.25% fixed for two years that requires a minimum deposit of 10%. More details of this mortgage, which may be of interest to first-time buyers, can be found in the chart below.

This deal now offers the second lowest rate on the market for this loan-to-value tier, and is only bettered by two different lenders. These are Digital Mortgages by Atom Bank and West Brom BS, which both offer a rate of 5.24%.