Market Harborough Building Society has acquired a £120m mortgage portfolio of loans originated and managed by Gen H.

The portfolio is centred on residential mortgage customers including first-time buyers and borrowers with more complex circumstances.

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

Market Harborough Building Society chief executive Iain Kirkpatrick says: “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.”

Gen H chief executive Graham McClelland adds: “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.”