Gen H has entered the Scottish market.
The Scottish launch will initially be available exclusively through Mortgage Advice Bureau (MAB) brokers.
The launch includes the Gen H income-boosting proposition, which offers advisers an alternative to guarantor mortgages, gift deposits or complex family structures.
Gen H sales and distribution director Sara Palmer says: “We hear a lot about the housing crisis in England, but affordability is also one of the most pressing challenges facing aspiring homeowners in Scotland.”
“Many people can afford the monthly repayments – often paying the same amount of rent – but are blocked by traditional income assessments.”
“By launching in Scotland and bringing income boosters to market, we are giving agents a practical way to help more customers buy faster, while ensuring family support can be used in a transparent, safe and fair way.”
Rachel Geddes, strategic lending director at MAB, added: “It’s fantastic to see the mortgage market developing across Scotland, an area that has been underserved by new lending proposals for too long.”
“Having listened carefully to feedback from brokers, there is high demand for a proposition that truly meets the needs of Scottish customers. A critical gap identified was the lack of flexibility, particularly in the area of enhanced lending options. This is exactly where Gen H comes into the picture. Their highly anticipated launch into the Scottish market has been specifically designed to fill that gap.”
“This partnership allows us to directly support Scottish businesses and their customers, and we are incredibly excited to launch this exclusively for MAB agents. We strongly encourage other lenders to join us in taking a more flexible, customer-centric approach to better serve the Scottish property market.”