Gen H lowered interest rates after the lender announced that swap rates had fallen.
The lender cut all interest rates by 10 basis points effective July 20.
It said: “We know it’s been a tough week. It’s not a fun idea for anyone to have the rate rise twice in quick succession – and that’s before we get to Wednesday night.”
“So we’re happy to be back with some better news. Swaps have stopped, and we’re passing that directly on to our customers.”
Meanwhile, Keystone Property Finance has announced that it will withdraw its current fixed-rate products from 17:29 today as it prepares to make changes to its rates.
These changes come after price increases by institutions and brokers in the emirate.
