The funding partnership was initially established in 2022 and Gen H said it had allowed it to “meet strong demand for its innovative mortgage products”.
Gen H continued on to say that the extension showed a “deep alignment of purpose and values” between the two firms, adding that the partnership had created around 5,000 homeowners funded by around £1bn of forward-flow funding.
Graham McClelland (pictured), Gen H’s CEO, said: “A partnership between a building society – known for its credibility and heritage – with a customer-obsessed start-up such as Gen H may not have been an obvious choice. But as we mark the extension of this relationship, it’s clear just how successful and mutually beneficial it has been.
“We’ve learned a great deal from one another: we’ve helped NBS embrace more agile ways of working, and they’ve supported us in enhancing our governance and decision-making. I’m delighted to continue this collaboration and look forward to what we’ll achieve together in the years ahead.”
Sue Hayes, Nottingham Building Society’s CEO, added: “Our partnership with Gen H has been one of deep alignment, not just in our shared ambition to make homeownership more accessible, but in how we’ve worked together to achieve it.
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“Since 2022, this collaboration has helped thousands of people take their first or next step onto the property ladder, combining Gen H’s customer-led innovation with the trust and stability of our 175-year legacy.
“As a mutual, we exist to support our members and their communities, and in Gen H, we’ve found a partner that shares our belief in doing business differently, with purpose. We’re proud to extend this partnership and look forward to building on its impact in the years to come.”
Gen H recently established a funding partnership with JN Bank UK, and has also entered into funding partnerships with SilverRock and Penrith Building Society.
The company has also entered into a funding partnership with Perenna to launch its New Build Boost deal, which is marketed as an alternative to Help to Buy.
