Get Your Best Mortgage Deal, Completely Fee-Free!

Introducing Perenna: A New Dawn in UK Mortgage Lending

WE WORK WITH 90+ MORTGAGE LENDERS
In this guide:
    Add a header to begin generating the table of contents

    Revolutionising Homeownership with Long-Term Fixed-Rate Mortgages

     

    Perenna Mortgages

    In a bold move that’s set to shake up the UK mortgage market, Perenna Mortgages emerges as a beacon of innovation and stability. Offering a groundbreaking solution inspired by the American and Danish models, Perenna Mortgages is not just entering the market – it’s redefining it. With its unique long-term fixed-rate mortgages, Perenna promises to transform the way Britons think about financing their homes, making the dream of homeownership more attainable and secure than ever before.

    A Fresh Perspective on Mortgages

    Perenna’s launch marks a significant shift from traditional short-term fixed-rate mortgages, which have dominated the UK market. Unlike the typical two to five-year fixed deals, Perenna introduces ultra-long fixed-rate mortgages, offering stability and predictability for up to 30 years, and potentially extending to 40 or even 50 years in the future.

    What Sets Perenna Apart?

    • Long-Term Fixed Rates: Perenna’s 20 and 30-year fixed products lock in interest rates for the entire mortgage term, shielding homeowners from interest rate fluctuations and the associated stress of frequent remortgaging.
    • Increased Borrowing Power: Recognising the challenges faced by first-time buyers and others in the current economic climate, Perenna allows borrowers to secure up to six times their salary, significantly higher than the typical lending caps.
    • Flexibility and Security: Early Repayment Charges (ERCs) apply only for the first five years, offering flexibility to switch lenders or products without penalties thereafter. This approach provides a balance of security and adaptability, crucial in a changing economic landscape.

    The Perenna Advantage for First-Time Buyers

    Perenna’s entry is particularly beneficial for first-time buyers, who often struggle with affordability and borrowing limits. With the option to borrow more and the certainty of fixed repayments, Perenna is poised to help more individuals step onto the property ladder.

    Expert Insight from Steve Roberts

    Steve Roberts, a experienced mortgage expert and founder of YesCanDo Money, shares his thoughts on Perenna’s impact:

    “Perenna’s innovative approach to mortgage lending is a game-changer in the UK market. Their long-term fixed-rate mortgages address key issues of affordability and stability, which are crucial for first-time buyers and those looking to secure their financial future. This new offering could significantly shift how we approach home financing, providing much-needed certainty in these uncertain times.”

    Funding Innovation

    Perenna’s unique funding model, involving issuing covered bonds to investors like pension funds and insurance companies, sets it apart from traditional lenders reliant on short-term deposits. This model supports their ability to offer long-term fixed rates, a rarity in the UK market.

    Embracing Change in Uncertain Times

    In an era of economic uncertainty and fluctuating interest rates, Perenna’s long-term fixed-rate mortgages offer a breath of fresh air and stability to the housing market. Homeowners can now lock in rates, avoiding the unpredictability that has long been a hallmark of the UK mortgage market.

    The Road Ahead

    As Perenna rolls out its offerings to the public, it stands as a trailblazer, potentially inspiring other mortgage lenders to consider longer-term fixed-rate products. This shift could herald a new era of mortgage lending in the UK, characterised by greater stability and affordability.

    Share this post:
    Facebook
    Twitter
    Email
    WhatsApp
    Picture of Steve Roberts (MAQ)
    Steve Roberts (MAQ)

    Stephen Roberts MAQ is the founder of YesCanDo Money, one of the UK's largest no-fee mortgage brokers. With more than 30 years of hands-on experience in the mortgage industry, Steve really knows the ins and outs of mortgages. He's become a trusted expert and authority in the field, thanks to his deep understanding of the mortgage landscape. Speak to Steve or a member of his knowledgeable team today by completing our contact form:

    Contact Us

    Other Mortgage Insight Guides

    Halifax Unveils New 3-Year Remortgage Rates

    Halifax, a leading lender and a prominent name in the UK mortgage sector, has recently announced its innovative line-up of 3-year fixed-rate remortgage products. This ...
    Read More →

    A Surge in 35-Year and 40 Year Mortgage Terms

    2023’s financial landscape has witnessed a notable shift in mortgage trends. 35-year mortgages as well as 40-year mortgage terms are becoming more and more popular, ...
    Read More →

    Will mortgage rates go down in 2025 UK?

    On the 6th of February 2025, the Bank of England’s Monetary Policy Committee (MPC) decided to lower the base rate to 4.50% from 4.75%, the ...
    Read More →

    Skipton launches No Deposit Mortgage: 100% Mortgage UK

    First-time homebuyers in the UK often find themselves in a catch-22 situation, with high rental costs preventing them from saving for a deposit. Skipton Building ...
    Read More →

    Gen H Enhanced Criteria for Foreign Nationals in Lending Policy

    Generation Home known as Gen H has announced an updated mortgage policy aimed at making homeownership easier for foreign nationals in the UK. The move ...
    Read More →

    Accord’s Enhanced Criteria for Foreign Nationals

    In a commendable move towards inclusive lending, Accord Mortgages enhanced its criteria for applicants without indefinite leave to remain in the UK, effective as of ...
    Read More →

    Fastest Mortgage Lenders UK: 2024’s Speedy Leaders Analysed by YesCanDo Money

    In the dynamic UK property market, timing is everything. Securing a mortgage promptly can be the key to landing your dream home or even missing ...
    Read More →

    House Prices Falling Boosts Mortgage Product Transfers

    The UK housing market is experiencing growing turbulence. With house prices falling in many areas, homeowners are reevaluating their finances and considering product transfers to ...
    Read More →

    Secure the Best Mortgage Rate Guaranteed

    Securing the best mortgage rate can be daunting, especially with the ever-changing interest rates in the market. At YesCanDo Money, we understand that everyone is ...
    Read More →

    Ethical Mortgage Lenders: A Better Choice for the Future

    Buying a home is one of the biggest financial decisions you’ll ever make, but it’s also an opportunity to make a difference. By choosing an ...
    Read More →
    Scroll to Top
    This website uses cookies to improve your experience. If you continue we’ll assume you’re happy. See our privacy policy for more information.