Perenna has opened its long-term mortgages to a wider range of brokers, after joining the lender panels of the Mortgage Advice Bureau and Stonebridge, adding that more will follow.
The firm, which launched last year, lends up to 95% loan to value on fixed-rate terms ranging from 20 and 40 years. It lends up to six times a borrower’s income, subject to criteria.
It adds that it plans to soon launch interest-only variants of its long-term fixed-rate mortgages “which will address an unmet need for those with expired interest-only loans as well as people in retirement who want to release equity from their property”.
Its current products are live across several sourcing systems including Ignite, Trigold, Mortgage Brain, Twenty7tec, and Mortgage Broker Tools.
Last week, Legal & General Mortgage Club added Perenna to its lender panel.
In November, Perenna launched its first long-term fixed-rate home loans to new customers and first-time buyers as part of an exclusive partnership with L&C Mortgages.
Perenna co-founder and chief operating officer Colin Bell says: “With over 420 brokers already registered within a few months and cases flowing, we are creating a strong foundation for introducing greater consumer choice in the mortgage market.
“Also combining upfront proc fees and payments for life on these mortgages we are here to support brokers financially for supporting long-term fixed-rate mortgages.”
