Your Gen H update

We’ve got lots of announcements and updates to share with you. Let’s go!

Products and tools for you ??

Your dedicated intermediaries website. Early this year we launched your one-stop shop for everything you need to place your cases with Gen H. This (beautiful, in our humble opinion) bespoke site is the product of many hours of work by our product lead, Richard. Everyone say “Thank you, Richard!”

AI-powered packaging. We launched our AI-powered packaging tool earlier this year and the response has been very positive. Now, you can batch upload documents to an app and our AI will automatically categorise each file – and there are more exciting updates on the way. But with this new batch-upload functionality came another pain point, so…?

You asked, we listened – you can now delete files uploaded in error pre-submission. But if you upload a doc in error, you can now delete it, and it’ll be removed from the application so underwriters won’t see it.? More on this in this week's Gen H email.

Head over to Gen H Pro to get started.

Keeping your clients in mind ??

Our new, lower revert rate. Recent changes in the market mean we were able to lower our revert rate for all new business to BoE +2% and our SVR from 9.25% to 7.25%. When we say we’re trying to create the best possible outcomes for your clients, we mean it.

Important updates to our credit criteria ??

With all of the challenges faced by aspiring homeowners over the last few years, what are often small, temporary blips on a credit file shouldn't derail someone’s dreams of homeownership.?

With this in mind, we’re thrilled to share some updates to our credit criteria.?

Defaults

• We’ve increased our allowable default limit in the past 3 years from ￡100 to ￡300.

Missed payments

• Our missed payment policy now only applies within the last 2 years (this has dropped from 3 years).
• For new-build properties at 90% and other properties at 95% LTV, our additional criteria has changed to no missed payments within the last 6 months (down from 3 years). Standard lending requirements will apply after this point.?Check out our criteria guide to find out more.

And don’t forget: we also use Experian Boost data in our credit decisioning – meaning more of your clients may meet our lending credit threshold.

Experian Boost takes into account recurring expenses like Netflix, Spotify or council tax, or regular payments into an ISA – none of which typically count toward their credit score – as proof of responsible money management to help build users’ credit*.

Gen H Legal is thriving. We’re so glad that so many of your clients have found the boutique conveyancing service they were hoping for with Gen H Legal. And as ever, Gen H Legal is on hand to support your clients. Don’t forget, if you bundle a Gen H mortgage with Gen H Legal conveyancing, you’ll unlock cheaper rates for your clients.

Must watch ??

Pete Dockar on alternative lending. Hear the man behind our many rate decreases talk about alternative affordability solutions for aspiring homeowners in this challenging market. Now, he is our Chief Commercial Officer, so we are biased, but he knows what he’s talking about. Take a few minutes to learn from the best!

Well, that was a long read. Thanks for joining.

If you stop paying your mortgage, your home may be repossessed. *We cannot guarantee that your client's credit score will be boosted. All applicants will be assessed against our lending credit.