Residential mortgage lender Gen H has agreed to a forward-flow funding arrangement with Penrith Building Society.
The funding agreement comes into force from January 2025, and Penrith Building Society will fund a share of mortgages that Gen H originates and administers.
Gen H said the funding arrangement would allow it to support a wider range of borrowers.
It noted that it showed the companies “shared ambition to find new, innovative ways to lend, and to help redefine the terms of the UK’s mortgage market” and added that it was an “example of combining the customer-centricity of building societies” with the “fresh approach and agility of a technology-led lender to benefit aspiring homeowner[s]”.
The lender initially launched in 2019 with a focus on booster propositions and has since gone on to support thousands of aspiring buyers, movers and remortgagors.
Gen H achieved profitability in November 2024 and has announced over £500m completions.

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Also in November, the company partnered with Legal & General (L&G) and Rightmove to launch a property decisioning engine.
Will Rice (pictured), Gen H’s CEO, said: “We are very pleased to be partnering with Penrith Building Society in the service of helping more aspiring homeowners realise their dreams. In the face of a deeply broken housing market, buyers need all the help they can get – and they can count on us, and partners like Penrith, to keep driving the change they need.”
Zack Hocking, Penrith Building Society’s CEO, added: “We are delighted to be partnering with Gen H. We share the belief that everyone should be able to access homeownership, and we are excited by the prospect of making that possible, together, for many more people in 2025 and beyond.”