Market Harborough Building Society acquires £120m Gen H mortgage portfolio
Market Harborough Building Society has acquired a £120m mortgage portfolio of loans originated and managed by Gen H, supporting its growth strategy and focus on borrowers needing a more flexible approach.
Market Harborough Building Society has acquired a £120m mortgage portfolio of loans originated and managed by Gen H.
The society said the deal underlines its appetite for purposeful growth and its continued focus on borrowers who need a more flexible approach than the mainstream mortgage market can typically offer.
The portfolio is centred on residential mortgage customers, including first-time buyers and borrowers with more complex circumstances.
Market Harborough said the transaction supports its strategy to grow into adjacent lending segments while remaining focused on responsible lending, prudent risk management and long-term mutual value.
The society said the deal also reflected values-based alignment between Market Harborough and Gen H, with both organisations focused on improving access to borrowing for customers who can face additional barriers, including first-time buyers, self-employed applicants and foreign nationals.
Iain Kirkpatrick, chief executive officer of Market Harborough Building Society, said: “This acquisition is an important and commercially attractive step in our growth strategy.
“We want to grow the Society in a considered way, deploying our capital where we can achieve appropriate returns, manage risk carefully and stay true to our purpose as a mutual.
“This portfolio allows us to broaden our lending reach, support borrowers whose needs may not always fit standard models and build further resilience in our balance sheet.”
Kirkpatrick added: “At a time of renewed focus on the role mutuals can play in financial services, this transaction shows how building societies can grow responsibly, compete effectively and bring member-owned values to a broader range of markets.
“Supporting underserved borrower groups aligns closely with the founding purpose of our sector and our ambition to make Market Harborough Building Society stronger, more relevant and more impactful for the future.”
Graham McClelland, chief executive officer of Gen H, said: “We’re very pleased to have reached this agreement with Market Harborough Building Society.
“The portfolio reflects high-quality lending originated through Gen H which benefits underserved groups of aspiring homeowners, and it is important to us that we align ourselves with industry partners who share our values.
“Market Harborough brings deep lending experience and a clear mutual purpose, making it a strong long-term home for this portfolio.”
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