Company Research Report: Generation Home (Gen H)

Company Overview

Name

Generation Home, trading as Gen H.

Mission of the Company

Owning a home should be an opportunity for everyone. Gen H is rebuilding the homebuying process to make it simple, transparent, and fair, helping thousands of people realize their homeownership dreams.

Founding Details

Founded: 2018

Founders: Will and Sophia

Key People

Founders: Will and Sophia

Headquarters

1 Old Street Yard, London, EC1Y 8AF, England

Number of Employees

70+ employees

Revenue

No information is available.

What is the Company Known For?

Gen H is known for its innovative approach in the mortgage market, especially focusing on income booster mortgages and simplifying the homebuying process for a wider audience.

Products

Offered Products

1. Income Booster

Description: A unique mortgage solution that allows applicants to increase their property budget by adding up to five additional joint borrower sole proprietors (JBSP) or income boosters to a mortgage application.

Key Features:

Provides a higher budget compared to applying alone.

No impact on stamp duty.

Support from non-family, including friends.

Flexible ownership terms.

Real-time tracking of equity and ownership shares.

2. Deposit Booster

Description: Enables applicants to receive additional support to meet deposit requirements.

Key Features: No detailed features specified.

3. Dynamic Ownership

Description: Allows homeowners to adjust their equity share based on personal contribution to the property.

Key Features: Real-time adjustments and transparent ownership structures.

4. Gen H Legal

Description: Offers conveyancing services to streamline the legal processes involved in homebuying, providing dedicated conveyancer support and proactive updates.

Key Features: Fixed, transparent pricing and access to exclusive lower mortgage rates when bundled with a Gen H mortgage.

Recent Developments

Launch to the Broker Market: This expansion greatly increased Gen H's audience reach.

Funding Milestones:

Seed Funding: Raised £6 million in August 2019.

Series A Funding: £24 million in June 2021, alongside £300 million in debt funding.

Series B Funding: Led by Legal & General, with £600 million more in debt funding.

FCA Approval: October 2020, allowing Gen H to start serving customers.

New Products Launched

Gen H Legal: A new service introduced to provide a modern approach to conveyancing.

New Features Added to Existing Products

No additional features disclosed in the current data.

New Partnerships

Series B Funding: Led by Legal & General, indicating a strategic partnership within the UK housing market.

This report provides an in-depth overview of Gen H, focusing on the company's mission, products, and recent developments without offering any subjective commentary.