Gen H has reported its first monthly profit in November 2024, following a five-fold increase in revenue this year.
The demand for its product offerings, including income booster and deposit booster features, has risen significantly.
Gen H’s proprietary software spans loan origination and servicing, enabling the lender to deliver distinct mortgage propositions while maintaining high service quality.
This year, Gen H introduced new technologies, including a property decisioning engine in collaboration with Rightmove and Legal & General Surveying Services.
The lender also adjusted its criteria to support foreign nationals, the self-employed, and those with complex income types, positioning itself as a preferred option for customers underserved by traditional lenders.
Additionally, with Gen H Legal, its independent conveyancing branch, the lender has demonstrated strong demand for a streamlined home-buying experience.
It plans to invest further in enhancing this process in the coming year.
William Rice (pictured), co-founder of Gen H, said: “I am proud to announce that Gen H turned a profit for the first time in November 2024.
“This is a massive achievement for our team, who have shown remarkable spirit and tenacity to scale the business in the face of the substantial market headwinds of recent years.
“At the heart of this business is a shared belief in the good that homeownership can bring to a person, a family, and a community – and we are as committed to this cause as we were on day 1.
“2024 has been huge for us, and we’re all looking forward to an even bigger 2025.”
