GE Money Home Lending (GEMHL) has launched a three-year discounted mortgage in anticipation of further rate cuts. Almost three quarters of mortgage brokers expect the Bank of England base rate to be cut during 2008, with one in ten believing it will stand at a rate lower than 5 per cent by the end of the year. In response to these expected cuts, the lender has launched a three-year product at a rate of 7.14 per cent for near prime plus customers and 7.34 per cent for near prime customers, available to 90 per cent loan to value (LTV) for self-cert customers, and 95 per cent LTV for all other borrowers.