Funder Presentation
Partnering with Deutsche Bank
February 2026 · Confidential
History, milestones, market strengths, fundraising
Structure, ownership, key personnel
Scaling, projections, financial performance
Broker model, products, pricing, customer journey
Process, decisioning, fraud prevention, QA
Architecture, tech stack, reporting
Risk framework, arrears, default, CDR/CPR
Controls, audits, warranty, BCP
Section 01
Gen H's history, evolution, milestones, market strengths and funding history
Imagine Mortgages Ltd (trading as Gen H)
FCA authorised and regulated
England, Wales & Scotland
1 Old Street Yard, London
| Date | Milestone | Significance |
|---|---|---|
| 2020 | First mortgage completion | Proof of concept — full origination & servicing |
| 2021 | Income Booster launch | Flagship product — JBSP with "Ejector Seat" |
| 2022 | L&G strategic investment | Strategic equity investment |
| 2024 | Intermediary-only transition | Scalable distribution via 16,500+ broker advisors |
| First monthly profit | Path to sustainable profitability | |
| 2025 | New Build Boost launch | Private-sector help-to-buy funded by housebuilders |
| Interest-only proposition | Product range expansion — IO & Part and Part | |
| 2026 | Scotland expansion | Widened addressable market to England, Wales & Scotland |
Income Booster, New Build Boost and dynamic ownership solve real affordability challenges that mainstream lenders cannot address
Full in-house origination & servicing platform with AI packaging and Rightmove/L&G integrations
Intermediary-only model with 16,500+ broker advisors across major networks
Multiple institutional funding partners — Nottingham BS, Penrith BS, SilverRock, This Bank, and warehouse facilities
500% revenue growth in 2024; profitable since November 2024
Backed by Legal & General, Mithril Capital and Barclays warehouse facility
Section 02
Company structure, ownership and key personnel
Rebuild the homebuying process to make it simple, transparent and fair
Originate-to-distribute with retained servicing. Intermediary-only since 2024
Proprietary loan origination & servicing platform, AI-powered packaging, Gen H Pro broker portal
| Name | Role |
|---|---|
| Graham McClelland | CEO |
| Pete Dockar | Chief Commercial Officer |
| Ashley Currie | Chief Operating Officer |
| Claire Pratt | Head of Risk / MLRO |
| Hal Sarjant | Chief Customer Officer |
| Andrew Mackie | Finance Director |
| Andre Barbosa | Chief Technology Officer |
| Charlotte Downey | Head of People & Legal |
| Sara Palmer | Sales & Distribution Director |
| Hannah Parker | Chief of Staff |
| Name | Role |
|---|---|
| Tony Ward | Chairman (Independent) |
| Graham McClelland | CEO |
| David Lundholm | Investor NED |
| Peter Walker | Independent NED |
| Maria Harris | Independent NED |
| Will Rice | Co-Founder (NED) |
Section 03
Origination scaling, volume projections, financial performance and long-term plans
Live data as of Feb 2026
Scaling lending volume through funding diversification and proposition expansion
Built for scale: 65 people today, scaling to just 80 at £3bn lending — proprietary platform enables 5x volume growth with <25% headcount increase. 60% compound annual growth rate sustained over 4 years.
Gen H has built the foundations to become a significant force in the UK mortgage market
| Revenue | Annual Lending | |
|---|---|---|
| Today | £10m | £600m |
| 2028 | £22m | £1.5bn |
| 2030 | £30m | £2bn |
Targeting £22m revenue with <10% incremental headcount growth
Outstanding balance over time across all active funding lines
| Funding Line | Loans | Balance | Share |
|---|---|---|---|
| Aston | 4,019 | £991.7m | 86.1% |
| Topaz | 264 | £69.9m | 6.1% |
| Quartz | 154 | £40.7m | 3.5% |
| Pluto | 118 | £27.6m | 2.4% |
| Peony | 70 | £17.1m | 1.5% |
| Furnace | 15 | £4.3m | 0.4% |
| Total | 4,640 | £1,151.3m | 100% |
12-month product roadmap across four strategic pillars
Scale forward-flow capacity beyond current £960m p.a. with new institutional partners. Automated allocation & concentration-limit tooling enables efficient multi-funder operation at higher volumes.
Establish diversified, multi-channel funding structure — warehouse, forward flow and capital markets. Pricing optimisation engine maximises margin across all lines, creating a compelling partner proposition for Deutsche Bank.
Section 04
Distribution model, products, pricing, customer journey and conversion
All origination flows through our broker panel. No direct-to-consumer channel. Consistently exceeding £50m applications per month throughout 2025, with yield stabilised at c. 2%.
The Openwork Partnership • Mortgage Intelligence • HL Partnership • L&C Mortgages • Brilliant Solutions
JBSP — family member joins mortgage (not deeds) to boost borrowing power. Unique "Ejector Seat" allows removal when no longer needed.
33% of all applications
Private-sector help-to-buy, designed in-house and funded by housebuilders. Currently with Persimmon, expanding to Taylor Wimpey, Lovell & Barratt in 2026.
~7% new build share of applications
Flexible family deposits — up to 100% from family/friends as interest-free or equity loan. No max boosters. Money can be returned.
Protecting deposit interest
Full England, Wales & Scotland coverage. IO and Part & Part products available up to 75% LTV.
Purchase & remortgage. Up to 95% LTV. Flexible criteria for complex incomes (67%), foreign nationals (30%), self-employed (32%).
Retention via in-house product switch process. Customers prompted 6 months before rate end.
Gen H prices for risk-adjusted returns, not volume. Rate card tiered by LTV band, product term and repayment type.
16,500+ broker advisors across all major networks. No direct-to-consumer.
Gen H Pro broker portal, AI packaging copilot, automated valuation instruction.
Full in-house servicing platform. GoCardless multi-borrower payments. Product switch retention.
Current pipeline by stage (excl. product switches) · as at 20 Feb 2026
Section 05
Team, process, decisioning, fraud prevention, affordability, QA and escalations
CEO-chaired, monthly. Governs scorecard, lending policy, and all L5 decisions (>£1m).
Second-line review of 10+ cases per month. Findings reported to Risk Co.
| Level | Authority | Approved By |
|---|---|---|
| L0 | Review & satisfy rules only; requires secondary sign-off | New UW (training) |
| L1 | Loans ≤ £350k, Medium Risk | Underwriter |
| L2 | Loans ≤ £600k, High Risk | Senior Underwriter |
| L3 | Loans ≤ £750k, High Risk | Senior Underwriter |
| L4 | Loans ≤ £1m, High Risk | CCO / Head of UW / Credit Policy Mgr |
| L5 | Loans > £1m | Credit Committee |
| LTV | ≤2.49x | ≤3.49x | ≤4.49x | ≤5.5x |
|---|---|---|---|---|
| 60% | Low | Low | Med | High |
| 80% | Low | Med | Med | High |
| 90% | Med | Med | High | High |
| 95% | Med | High | High | High |
Policy/Funder exceptions require L4+ review. Approved by Credit Committee, Feb 2026.
Core systems: X1 (task workflow) + AA (credit policy rules) | All broker comms via HubSpot | Valuations via Quest/LenderHub
Cases meeting all policy rules and scoring above LTV-band cut-off receive automated approval. Real-time fraud screening integrated into the decision flow.
Cases below scorecard threshold, outside policy parameters, or flagged by fraud/AML screening are routed to underwriters with tiered credit authority.
Section 2.4 of the Scorecard Manual governs override process: appropriate judgement must be applied with relevant guidance exception documented.
Ongoing model performance monitoring with regular reporting to Credit Committee. Score distributions and approval rates tracked against expected ranges.
Fraud Policy v2.0 (Claire Pratt, MLRO) | AML Policy v4.1 | ECCTA-aligned | Approved by RiskCo
Cap: Expenditure capped at £100k income
1-adult: £1,519/mo | 2-adult: £1,897/mo
Floor: Fixed at £20k income
1-adult: £813/mo | 2-adult: £1,266/mo
Child costs from ONS Table A23. First child: £160/mo, subsequent: £109/mo. Adjusted by income using linear regression slope. Multipliers: 1.16x (1-adult, 1 child) to 1.26x (2-adults, 3 children).
Multi-applicant affordability: all income contributors assessed. Booster (JBSP) income factored into household affordability with surplus requirements applied.
Reviewed half-yearly for inflation and annually when ONS survey data is released. All changes approved by Credit Committee.
Basic Expenditure Model v5.0 (Jan 2026) | Awaiting Feb 2026 Credit Committee approval
| Criteria | Physical | Desktop | AVM |
|---|---|---|---|
| Max LTV | No restriction | 90% | 80% |
| Property Value | No restriction | £0 – £3m | £0 – £1m |
| Max Bedrooms | No restriction | 8 or below | 6 or below |
| Non-standard construction | Yes | Yes | No |
AVM system exclusions: new builds, unknown property types, studio flats, built before 1850 | Property Valuation Policy v1.7, Sept 2025
Files are sampled from both automated approvals and manually underwritten cases to ensure coverage across all decision types. Sample size reflects current volumes and risk profile.
QA findings feed directly into Credit Committee reporting. Systemic issues trigger policy or process updates. Individual issues addressed through targeted coaching and documentation standards.
Each review cycle generates specific improvement actions (e.g. documentation standards, criteria clarifications) that are tracked to closure and verified in subsequent reviews.
All exceptions must be logged, monitored, and reported to Credit Committee.
Underwriting Guidance Manual v2.6.2, Jan 2026 | Mortgage UW Process Guide v1.0
Capital Markets notified at least 5 working days before completion. Managed by Completions team.
Section 06
Proprietary technology stack, systems architecture and reporting capabilities
Gen H can provide loan-level data, performance reporting, pool stratifications and covenant compliance monitoring at whatever frequency DB requires. The data infrastructure is designed for institutional-grade reporting — all metrics are derived from the same BoE tape and accounting ledger that serve existing funders. Currently reporting monthly to 6 active funding lines.
Section 07
Risk framework, arrears management, default processes, CDR and CPR
Run the business day-to-day. Proactive risk identification through monthly monitoring. Set and report KRIs aligned to risk appetite and strategic objectives.
Review and challenge Line 1. Design and embed the RMF. Independently test control effectiveness. Horizon scanning for emerging risks.
Independent of management, reports directly to BR&AC. Provides independent assurance over effectiveness of risks, controls and governance across Lines 1 and 2.
4 Risk Categories tracked and reported regularly to Board Risk & Audit Committee: Finance (market, funding, liquidity, credit) | Operational (people, InfoSec, change, 3rd party, resilience) | Regulatory (FinCrime, legal, compliance, GDPR) | Conduct (products, pricing, complaints, vulnerable customers)
Comprehensive forbearance toolkit (9+ options) governed by Credit Committee. No payment holidays. All measures reported monthly.
Litigation is last resort. No repossession until at least 12 months after first missed payment. Credit Committee sign-off required at every stage.
Percentage of loans in arrears (1+ CMI) on the latest tape by completion year
| Vintage | Loans | In Arrears | Rate |
|---|---|---|---|
| 2021 | 63 | 0 | 0.00% |
| 2022 | 142 | 2 | 1.41% |
| 2023 | 293 | 5 | 1.71% |
| 2024 | 1,893 | 8 | 0.42% |
| 2025 | 2,010 | 3 | 0.15% |
| 2026 | 239 | 0 | 0.00% |
| Total | 4,640 | 18 | 0.39% |
18 loans in arrears across the entire book — total arrears rate of 0.39%, well below industry averages.
Loans redeemed each month as a percentage of total on-tape book
Section 08
Controls, audit history, warranty compliance, quality control and business continuity
| Audit Topic | Period | Reviewer | Open |
|---|---|---|---|
| Vulnerable Customers | Aug 2023 | PwC | 0 |
| Third Party Onboarding | Nov 2023 | PwC | 0 |
| AML & Sanctions | Mar 2024 | PwC | 1 |
| GDPR Review | May 2024 | 2nd Line | 2 |
| FinCrime Assessment | Jul 2024 | 2nd Line | 1 |
| Model Validation | Jul 2025 | BDO LLP | 0 |
| Customer Documentation | Jun 2025 | 2nd Line | 3 |
| MLRO Report | Aug 2025 | 2nd Line | 2 |
| Operational Resilience | Aug 2025 | 2nd Line | 1 |
| MCOB PS25/11 Rule Review | Sep 2025 | 2nd Line | 3 |
15 audits completed since 2023 · 80+ total findings · ~81% closed · Reviewers: PwC, BDO LLP, 2nd Line Risk
| Area | Frequency |
|---|---|
| Responsible Lending (MCOB 11.6) | Monthly |
| Vulnerable Customers | Monthly |
| Financial Difficulties | Monthly |
| KYC / AML / Fraud | Monthly |
| Risk Register | Monthly |
| Primary Servicing / Sanctions | Quarterly |
| Financial Promotions / Complaints / Arrears | 6-monthly |
| GDPR / InfoSec / Risk Assessment | Yearly |
Quality Control: Monthly UW file sampling (89% clean pass rate), monthly responsible lending checks, monthly customer outcomes reviews, monthly FinCrime screening verification. All findings reported to Credit Committee.
No warranty breaches — loan or corporate — have occurred to date across any funding line or programme.
Gen H has originated over £1bn in lending across 5 funding partners with zero instances of warranty breach, reflecting the strength of the origination, underwriting and servicing controls in place.
We look forward to partnering with Deutsche Bank
Gen H | 1 Old Street Yard, London
genh.co.uk
Supporting documentation and source references
| Section | Source | Status |
|---|---|---|
| Introduction | Gen H 2025 Deck (Figma), Intro Deck 2025 | Needs Figma MCP |
| Corporate Overview | Figma Org Chart, Gen H 2025 Deck | Needs Figma MCP |
| Business Strategy | Gen H 2025 Deck, Lightdash | Live data |
| Origination | Origination slides, Props & Product 2025, Customer Journey, Funnel data | Integrated |
| Underwriting | UW Process Guide, Scorecard Manual, Fraud/AML policies, etc. | Integrated |
| Technology | System Architecture PPTX (50 slides) | Integrated |
| Credit Risk | RMF, Special Servicing Manual, Lightdash | Live data |
| Governance | Compliance Framework, Assurance Plan, BCP | Integrated |