Penrith Advances Mortgage Strategy with Generation Home
Deal News | Mar 19, 2025 | TLT
National law firm TLT has successfully advised Penrith Building Society in establishing a forward-flow funding arrangement with Generation Home, which operates under Imagine Mortgages Limited. This funding arrangement enables Penrith Building Society to finance first-ranking, owner-occupied residential mortgages initiated by Generation Home specifically targeting properties in Cumbria. Generation Home is known for its innovative mortgage solutions that assist first-time buyers by allowing them to supplement income with that of family or friends or to accept loans for deposit payments. This collaboration enhances Penrith's ability to aid customers previously beyond their reach and complements Generation Home's existing relationship with Nottingham Building Society. The legal guidance was led by TLT's structured finance team, spearheaded by partner Tom Ward and supported by other associates. This move marks a continued demonstration of TLT's expertise in advising building societies, as the firm reportedly expects to support an array of strategic transactions in 2025.
Sectors
- Finance
- Legal Advisory
- Real Estate
Geography
- United Kingdom – Penrith Building Society and Generation Home operate in the UK, and the properties involved are located in Cumbria.
Industry
- Finance – The article involves a funding arrangement between a building society and a company offering mortgage products.
- Legal Advisory – National law firm TLT provided legal advice for the financial transaction.
- Real Estate – The funding arrangement is centered around residential mortgages for properties in Cumbria.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Penrith Building Society | Target Company | Company | A building society entering into a funding arrangement to enhance its mortgage offerings. |
| Imagine Mortgages Limited | Other Company | Company | Trading as Generation Home, it partners with Penrith to provide innovative mortgage products. |
| TLT | Legal Advisor | Company | A national law firm advising Penrith on the funding arrangement. |
| Tom Ward | Partner | Person | Partner in TLT's structured finance team leading the transaction. |