GE Money to cut rates

GE Money Home Lending is cutting initial rates by up to 0.9% across its product range on Monday 27 June.

The lender is launching a new two-year fixed loan with rates from 4.29%, offering customers a lower rate in conjunction with a higher completion fee and a two-year discount loan with rates starting from 3.99%.

It says the rate reductions average 0.38% but go up tp 0.9%. For example, the rate on its 75% LTV GEM1 discount product is now 4.49%.

All the rates on the LTM2, GEM1, 2 and 3 products has been lowered.

GE Money said the rate changes formed part of a review focused on providing “added value