The funding partnership will allow Gen H to “accelerate its mission to reshape the mortgage market and improve access to homeownership at a time of growing affordability pressures”.
It said specifically that it would strengthen its “capacity to originate new loans and [scale] its innovative product offering”.
JN Bank UK, which recently secured significant investment, has a “commitment to inclusive finance”, so it aligns with Gen H’s mission of creating a more accessible housing market.
Gen H recently entered a funding partnership with SilverRock and established a funding relationship with Perenna to launch its New Build Boost product.
Earlier this year, it also confirmed a funding partnership with Penrith Building Society.
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Graham McClelland, Gen H’s CEO, said: “Too many people are locked out of homeownership because the mortgage market hasn’t evolved to reflect how people live and work today.
“This funding partnership gives us the firepower to help more buyers succeed, with products built around their real financial lives, not outdated assumptions. We’re grateful to JN Bank UK for backing our mission.”
Chris Waring, JN Bank UK’s CEO, said: “Our continued vision is to build on the bank’s rich legacy and evolve to meet the changing needs of our customers in an ever-increasingly digital world.
“Our partnership with Gen H aligns with our values and strategic growth ambitions to ensure more customers have access to a broader range of solutions to meet their goals. We stand together with Gen H in this mission.”
