Perenna Mortgages Reviewed
Perenna’s Vision: A Commitment to Happy Homeownership
Perenna is a new UK mortgage lender dedicated to improving the UK mortgage market and helping homeowners achieve their dreams. Their mission is to create a nation of happy homeowners by offering flexible, long-term fixed-rate mortgages. This innovative approach provides certainty over monthly payments for up to 40 years, aiding more people in owning homes and supporting them through retirement.
Fixed for Life Mortgages: Unwavering Stability Meets Flexibility
Perenna’s ‘Fixed for Life’ mortgage redefines financial stability in home financing. By fixing your rate for up to 40 years, you gain clarity on your monthly payments for the entire mortgage term, eliminating worries about rising rates or being denied future mortgage products. This long-term stability is coupled with unmatched flexibility:
Long-Term Fixed Rates:
- Enjoy fixed interest rates for up to 40 years, ensuring your payments remain consistent, with no surprises.
- Fixed rate for the whole term of the mortgage, providing long-term financial predictability.
- Early Repayment Charge (ERC) is applicable only in the first 5 years, offering flexibility afterwards.
- Applicants can borrow up to 6x income if the total income is over £50k and applicants are employed, enhancing borrowing power.
Flexibility for Life’s Changes:
- Perenna’s mortgages are designed to adapt to your life.
- Easily transfer your mortgage when moving homes.
- After five years, switch to another lender or product without any charges, allowing for future financial planning and adjustments.
Mortgages Offered by Perenna
Perenna Mortgages is new to the mortgage market and is here to assist you in helping you make the right choice when purchasing a home. Explore the Perenna mortgage deals and observe how changes to the initial period, total mortgage length, deposit amount, or borrowing amount impact monthly payments. When you find one that suits your needs perfectly, one of our knowledgeable mortgage advisers will verify eligibility before helping set up the loan!
First-Time Buyer Mortgages: Making Dreams a Reality
For first-time buyers, stepping onto the property ladder is now more achievable with Perenna. With just a 5% deposit, Perenna’s long-term fixed rates provide the financial certainty crucial for new homeowners, enhancing their borrowing power and making homeownership a reality.
- Accessible Homeownership: Only a 5% deposit is required for first-time buyers.
- Financial Certainty: up to 40-year fixed rate mortgage available.
- Enhanced Borrowing Power: More borrowing potential due to a stable payment structure.
Remortgaging with Perenna: A Future-Proof Solution
Perenna offers a refreshing approach to remortgaging, breaking the cycle of uncertainty and frequent changes. Their long-term fixed rates provide peace of mind and the ability to plan for the future, with flexible terms that adapt to your evolving needs.
- Stable Long-Term Rates: Fixed rates for up to 40 years.
- Flexibility: Ability to transfer your mortgage or change products after five years.
- Future-Proof Financing: Peace of mind with consistent payments.
Green Mortgages: Rewarding Sustainable Choices
Perenna is committed to environmental sustainability, offering green mortgages that incentivise energy-efficient home improvements. By choosing a more eco-friendly home or making green upgrades, you not only contribute to reducing carbon emissions but also enjoy lower mortgage rates.
- Incentives for Eco-Friendly Homes: Lower rates for energy-efficient improvements.
- Environmental Contribution: Support the UK’s goal of reducing carbon emissions.
- Financial and Environmental Benefits: Enjoy both lower mortgage rates and energy bills.
Perenna: A Trusted and Regulated Partner
As a regulated bank, Perenna offers the security and reliability you seek in a mortgage lender. Their innovative approach is backed by solid regulatory compliance, ensuring a safe and trustworthy path to homeownership.
Regulated and Secure: Fully compliant with financial regulations.
Trustworthy Mortgage Partner: Reliable and innovative mortgage solutions.
Safe Homeownership Journey: A secure path to owning your dream home.
Perenna: Transforming the Mortgage Experience
Frequently Asked Questions
What is a 'Fixed for Life' mortgage?
A ‘Fixed for Life’ mortgage from Perenna offers a fixed interest rate for the entire term of the mortgage, up to 40 years. This means your monthly payments remain the same throughout the duration of your mortgage, providing financial stability and predictability.
Who is eligible for a Perenna mortgage?
Eligibility for a Perenna mortgage typically includes meeting income requirements (such as a total income of over £50k for higher borrowing limits), employment status, and creditworthiness. First-time buyers, those looking to remortgage, and individuals seeking green mortgages can all be eligible.
Can I borrow more with a Perenna mortgage?
Yes, Perenna offers up to 6x income borrowing if your total income is over £50k and you are employed. A longer fixed-rate mortgage term gives applicants a higher affordability boost compared to applicants on a short-term fixed-rate mortgage. This can significantly enhance your borrowing power compared to traditional mortgage products.
What happens if I need to move homes?
Perenna’s mortgages are designed for flexibility. You can port your mortgage which means you transfer your existing deal to a new home, making it easier to move without the hassle of finding a new mortgage and
Is there an Early Repayment Charge (ERC)?
Declining early repayment charges are only applicable for the first 5 years of the mortgage. After this period, you can make changes to your mortgage or switch to another lender or product without any charges.
Are there any special mortgages for eco-friendly homes?
Yes, Perenna offers green mortgages that provide incentives for buying an energy-efficient home or making eco-friendly improvements. These mortgages come with lower rates, encouraging sustainable living choices.
How does Perenna ensure the security of my mortgage?
Perenna is a regulated bank, compliant with financial regulations. This ensures a secure and trustworthy mortgage lending experience, providing peace of mind to homeowners and those looking to get on the housing ladder.
Fee-Free Mortgage Advisors
We offer FREE dedicated support throughout out the mortgage process, we have full-market access to the best mortgage rates & deals. We do everything for you, for free!
- FREE mortgage support and advice
- We submit the mortgage application for you
- Team of expert online mortgage advisers
- Amazing communication via WhatsApp, email and SMS.
- Access to 90+ UK mortgage lenders
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Bliss Harland (CeMAP)
Bliss (CeMAP) is a dynamic Mortgage & Protection Adviser at YesCanDo Money, with a particular expertise in assisting self-employed individuals. Starting her journey in an IFA firm, she transitioned into the world of mortgages, bringing with her a unique blend of adaptability and proficiency. Whether she's guiding first-time buyers, those eyeing their next home move, or individuals delving into buy-to-let, Bliss shines especially when navigating the complexities faced by self-employed clients. Her hands-on approach, paired with her deep understanding of the mortgage market, ensures that every client feels informed, confident, and catered to in their financial journey.
