Market Harborough Building Society expands lending reach with £120m Gen H portfolio acquisition

15 July 2026

Market Harborough Building Society has acquired a £120m mortgage portfolio of loans originated and managed by Gen H in a deal that underlines its appetite for purposeful growth and its continued focus on borrowers who need a more flexible approach than the mainstream market can typically offer.

The portfolio is centred on residential mortgage customers including first-time buyers and borrowers with more complex circumstances - areas where specialist understanding, pragmatic underwriting and strong customer support can make a meaningful difference.

The transaction points to a growing role for mutuals in serving customers who sit outside standard lending boxes, at a time when affordability pressures, changing employment patterns and more varied borrower profiles continue to shape the UK mortgage market.

The Society said the acquisition supports its strategy to grow into adjacent lending segments while remaining firmly focused on responsible lending, prudent risk management and long-term mutual value.

The deal also reflects a clear 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.”

He 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.”

The acquisition could also pave the way for a broader ongoing partnership between Market Harborough and Gen H, as the Society continues to assess opportunities that support its strategy, risk appetite and ambition to help more creditworthy borrowers access home ownership.

More information about Market Harborough Building Society can be found by calling 01858 412345 or visiting www.mhbs.co.uk/intermediaries.