Aspiring homeowners can access Gen H’s market-leading affordability feature, the income booster, via one of the 16,000+ brokers on the lender’s panel
11 March 2024 – When Gen H launched in the UK mortgage market in 2020, it did so with a specific focus: to help everyone become a homeowner, not just those who fit into a narrow box.
In service of this goal, Gen H has today announced an internal restructure as it works to forge deeper partnerships across the industry as an intermediary-only lender. As part of this restructure, Gen H will reshape certain teams to focus their efforts on delivering excellence in end-to-end service alongside Gen H Legal.
At the same time, Gen H has made a series of expert hires including Karen Appleton as Head of Lending and Claire Pratt as Head of Financial Crime Risk. These key hires will help the lender sharpen its propositions and continue its mission to provide solutions for the growing number of people locked out of homeownership.
The lender has also secured additional capital from a combination of new and existing equity investors, including Legal & General. Gen H will continue its successful forward-flow funding arrangement with strategic partner Nottingham Building Society which commenced in late 2022.
This announcement follows a busy start to the year for the lender, which set a new record for application volumes in January and February. Notably, a significant proportion of applications made use of Gen H’s income booster product, signalling that demand for innovative propositions is higher than ever. This can also be said for Gen H Legal, who also had their best ever month since their launch in October 2022.
Will Rice, CEO at Gen H, said:
“Making homeownership accessible to all has never been a solo endeavour for us; we rely on the talent and commitment of our intermediary panel to help us help aspiring homeowners. The team and I are looking forward to a year focused on strengthening our relationships with our broker partners, delivering innovative new products to market, and working together to build the fairer housing market that we all deserve.”