Data from the Bank of Scotland indicates that the average first-time buyer property now costs approximately £194,000, while the average income remains around £30,504. This creates a price-to-income ratio of 6.4x, rising to 7.5x in Edinburgh, which exceeds the standard lending limits of most traditional providers. Although nominal weekly earnings in Scotland have risen to £739.70 in 2024, real pay has remained largely flat when adjusted for inflation. Conversely, house prices have grown substantially, with the new-build sector seeing a 51% increase over the last decade.

Gen H’s entry into the Scottish market provides a formalised framework for financial support from social networks to be converted into mortgage borrowing power.

The lender’s “income booster” allows family members or friends to join a mortgage application as non-resident co-borrowers. Unlike traditional guarantor schemes, this structure does not require collateral. These co-borrowers are legally liable for the mortgage but typically do not contribute to monthly payments; internal data suggests that 92% of these boosters never provide financial contributions. By adding a booster’s income to the application, buyers can access larger loans, often enabling them to enter the property market five years earlier than they might otherwise.

Sara Palmer, sales and distribution director, at Gen H, said: “So many people who could afford the monthly payments – and who often pay as much or more in rent – are blocked from buying because of the limitations of traditional income assessments.

“As we bring our income booster proposition to the Scottish market, I believe we’re opening the door to a homebuying landscape where support from friends and family can be made safe and fair, and where homeownership is no longer out of reach for hardworking households.”