Six months after its launch, Gen H’s New Build Boost mortgage scheme has already steered hundreds of first-time buyers into new homes, with healthcare workers and foreign nationals emerging as some of the biggest beneficiaries.

The scheme, introduced in March, is designed to bridge the affordability gap for those with limited savings. Buyers contribute a 5% deposit, Gen H provides an 80% mortgage, and a builder-backed interest-free “boost” of 15% closes the shortfall. The top-up remains frozen for five years and then adjusts in line with the property’s value, capped at double the original sum.

Since launch, 88% of applicants have been first-time buyers and 63% have been families. Notably, 43% of applicants are foreign nationals and almost a third work in healthcare, groups which often face higher hurdles in securing finance.

The average purchase price under the scheme has been £319,300, with the average boost worth nearly £48,000.

Gen H has already approved more than £90m of lending in principle through New Build Boost, with completions under way across the country. The lender said many buyers would not have been able to access homeownership at all without the scheme.

The initiative has drawn strong support from housebuilders, with Persimmon now offering New Build Boost across all of its Persimmon and Charles Church developments in England.

Pete Dockar (pictured), chief commercial officer at Gen H, said the results showed “the scheme’s effectiveness” in making ownership more inclusive. “We’re particularly proud to see that New Build Boost is empowering diverse groups, including a significant proportion of foreign nationals, who have historically faced disproportionate barriers to homeownership,” he said.

Gen H plans to expand the reach of the scheme in the months ahead, with further builder partnerships and variations of the product aimed at supporting even more buyers.