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Introducing Perenna: A New Dawn in UK Mortgage Lending

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    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.

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    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:

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