Gen H has promoted Graham McClelland to chief executive officer succeeding the lender’s co-founder Will Rice.

McClelland has worked at Gen H for almost four and a half years, most recently working as deputy chief executive officer and chief financial officer.

Rice will remain on the board of directors as a non-executive director to support Gen H.

Commenting on his promotion, McClelland says: I am delighted to have been given this opportunity to lead the business as Will moves to a non-executive role. Will has done a fabulous job to build Gen H from scratch into the leading innovator in the UK mortgage market.”

“It is an honour to take on the challenge of delivering this next phase of growth, supported by a tremendous team of colleagues, and a series of committed partners across the mortgage sector.”

Rice adds: “I have found the six years that I have spent building Gen H to be a hugely challenging and rewarding experience. My co-founder Sophia and I embarked upon this project because we believed that there was room for lenders to do so much more to support the ambitions of people struggling to find their place on the property ladder.”

“I am proud to have built a business that has stayed true to this founding ethos and is driving true innovation in the mortgage market.”

“I am extremely fortunate to have worked with wonderful colleagues who bought into our vision and who have helped us to build a truly customer-obsessed culture.”

“I have great confidence in handing the reins to Graham, who has been an integral member of our leadership team for the past four years. The company has an exciting future under his leadership, and I will remain involved to support him and the team as they drive the business forwards.”

Last week, Gen H trimmed prices on two-, three- and five-year products, with cuts focusing on high loan-to-value (LTV) products and its New Build Boost offering.