For many borrowers, the amount they can borrow is a key priority. But do they realise that the product they choose can impact the amount they can borrow?  

Perenna’s fixed for life products don’t have an SVR or ‘revert’ rate that most short-term products have (and therefore no SVR based stress test)! This means we can unlock higher borrowing amounts for those who need it, whilst giving the flexibility of a short ERC period of 5 years.  

If maximising borrowing power is important to your client, we have a new tool that can help bring this to life. You can now easily see how a Perenna product compares with short-term fixed rate products. Why not give it a try today?

Correct at time of publishing.

Discover the latest from Perenna! Over 100 brokers recently joined our webinar led by Graham, Intermediary Support Manager, and Tim, National Account Manager. They highlighted essential lending insights that you won’t want to miss. 

Graham kicked off the session by exploring our long-term fixed rate proposition with short ERCs, and how this is a great addition to the UK market offering stability with flexibility.   

Tim explained in depth our recent enhancements to lending policy for non-UK nationals, as well as some of our new build products helping more first-time buyers onto the housing ladder.  

They both used case studies to bring the policy to life, with examples ranging from first time buyers, through to borrowers remortgaging, or lending into retirement – covering the full range of customers Perenna aims to serve. 

Perenna provide fixed-rate mortgages for the long term, which keep payments stable throughout the loan period with decreasing Early Repayment Charges (ERCs) over the first 5 years. 

Perenna shows commitment to inclusivity for older borrowers by offering mortgage products designed with no maximum age limits.

The webinar provided brokers with an overview of Perenna’s range, which includes high LTV options, support for self-employed applicants, and updated policies for foreign nationals and new build properties. For more information about Perenna’s lending criteria, please visit our website. 

During the Q&A session, Tim and Graham addressed numerous broker questions, highlighting strong interest in Perenna’s offerings and policies. Topics ranged from offer extensions to non-standard properties and specific case scenarios.  

Graham ended by emphasising how important the relationship between lender and intermediary is to Perenna, and how working together can help us to deliver better customer outcomes.  

Don’t miss our next webinar on Thursday, July 25th! Learn how Perenna’s products cater to clients in later life stages. Register now to secure your spot!

Correct at time of publishing.
 

At Perenna, we believe that a stable and predictable mortgage is the key to a worry-free life. No longer does your client need to build their life around their mortgage. 

With our long-term fixed rate mortgages, they can secure their finances and focus on what truly matters – living their life. 

The mortgage revolution to set your clients free 

Imagine your clients knowing exactly what they’ll pay each month, without the fear of rising rates. Our long-term fixed rate mortgage offers this certainty, so your clients can plan those big life moments with confidence. 

Forget the mortgage and focus on building a life 

Our fixed rate mortgage provides the stability needed to concentrate on what’s important. With Perenna, your clients can defend their right to build a life without the stress of fluctuating mortgage payments. 

Age is but a number 

We believe in options for everyone, including those in later life. Unlike many other lenders, we don’t have a maximum age limit, so your clients can make the most of their retirement with a mortgage that works for them. 

See how much they can borrow 

Use our mortgage calculator to see how much they could borrow – it only takes a few minutes. 

Want to show your clients more? 

Share our brand video with them, so they can see how we’re creating a nation of happy homeowners, one mortgage at a time. 

Correct at time of publishing.

Retirees deserve the freedom to live the lives they’ve worked hard for. That’s why we call it The Mortgage Revolution! 

Freedom and choice in retirement 

With sensible advice, a mortgage in retirement can enhance, not hinder, the golden years. It’s about what suits their needs. Paying off a mortgage by retirement has been the norm and may be the best solution for a lot of clients.  But what if a mortgage could provide the freedom other clients need in retirement? 

Retirement should be a time for relaxing and living away from the pressures of work. Financial worries, especially around your home, can ruin any planned relaxation. And that’s why, at Perenna, we believe in providing options.  

The need for responsible later life lending 

Headlines from research conducted on behalf of Perenna highlight the need for tailored mortgage products for those over 55*: 

• 60% of over 55s report a lack of suitable mortgage options. 
• 36% find their mortgage restrictive due to age. 
• 64% worry about financial strain from rising payments. 

Older borrowers are often excluded from standard mortgage products due to maximum age limits or the exclusion of pension income.  

*Source – 1,003 survey respondents conducted by Censuswide in January 2024. All respondents were homeowners aged 55+.   

How could a Perenna mortgage help?  

Perenna aims to provide an alternative option.  We’ve pulled together some scenarios below to show how a Perenna mortgage could help your clients in later life.  

Consider these common situations: 

Lifelong homeowners
They’ve lived in their home for years, brought up children there, and now their grandchildren have their own rooms. The memories in these four walls are priceless. However, they face high SVR rates with no repayment plan and are being pushed to repay by their lender. 

Post-separation
After a separation later in life, as a single applicant, they want to release some equity from the property and stay in the location they love, but end-of-term age limits are a real barrier. 

Newly retired
With no mortgage and the world at their feet, they want to live life, travel, make home improvements, or help their children onto the property ladder, but savings are low. They need that lump sum without being ready to downsize just yet. 

Dream retirement home
That perfect new build home near the family is on the market, but the area is more expensive than where they live now. Selling their home doesn’t quite give them enough to make the move, so they want to explore finance options as this opportunity might not come up again. 

Perenna’s long-term fixed-rate lending could be a great option for all the above situations. 

Perenna’s solution 

For some of your clients, lending into retirement is not required, and aiming to pay off their mortgage before they leave employment is the best solution for them.  However, for others, lending into retirement can be a good solution to assist individuals in securing a home or maintaining their current residence, provided it is done responsibly and appropriately. 

We know that a short-term fixed rate can leave the borrower vulnerable to payment shocks, especially on a fixed pension income. With Perenna, the risk of payments becoming unaffordable is removed, and payment certainty is gained.  

We don’t want later life borrowers to have to make choices about holidays they can’t go on or hobbies they have to give up when their rate expires. Instead, they can have the best of both worlds and the ability to take advantage if rates go down. 

With a range of options, including no maximum age on a repayment mortgage or a retirement interest-only mortgage, all with only a 5-year ERC, Perenna can help put the financial freedom back in the hands of the borrower. 

So next time you have a client looking to borrow in later life, make sure you consider all of the options available, and see whether a Perenna mortgage could be the perfect match.

Correct at time of publishing.

Our recent webinar, led by Perenna’s National Account Managers Tim Sorrell and Deborah Reeves, focused on our new build mortgage range. It offered insights and tackled brokers’  queries. 

Webinar highlights

Own New: 

If your client is thinking about a new build home, Own New could be a perfect fit. 

Own New connects home builders and lenders to help more people with buying a new build home. 

The scheme enables lower-rate mortgages for new homes. It is funded by housebuilders, who pay a small fee upon the sale’s completion. There is no cost to the buyer. This means your client can have a normal mortgage and own 100% of their home.

Deposit Unlock: 

One of the main talking points  was the Deposit Unlock scheme. This allows clients to buy new homes with just a 5% deposit. 

If your client dreams of owning a new home but finds it hard to save, the Deposit Unlock scheme could help. 

The scheme allows your client to have a normal mortgage and own 100% of their home. And they’d only need a 5% deposit. 

Tim and Deborah highlighted that Deposit Unlock is specifically for new build houses. There is also a maximum loan amount of £750,000. Understanding different construction types is crucial, especially for non-standard properties. 

Insights on affordability assessment: 

In the webinar, attendees learned about Perenna’s affordability assessment. We look at debt-to-income without a fixed ratio, while also considering debt obligations for responsible lending. 

Q&A session: 

In the webinar, we answered questions about topics such as offer extensions and non-standard properties. Tim and Deborah gave detailed responses, explaining Perenna’s new build options. 

Next webinar: 

Save the date for May 16th! We will be hosting our next Perenna Live webinar.  

Have ideas or thoughts for future sessions? Email us at broker@perenna.com. We’d love to hear from you! 

Interested in how Perenna can help you and your clients? Reach out to us or visit our website.

Correct at time of publishing.

We are thrilled to announce that Perenna has joined Deposit Unlock, a groundbreaking scheme designed to revolutionise accessibility to new build home financing for first-time buyers or those moving home. 

Developed in close collaboration with lenders and the home-building industry, Deposit Unlock empowers prospective buyers to secure their dream new build home with just a 5% deposit. 

Key highlights for homebuyers… 

• Accessible New Build purchases: With Deposit Unlock, buyers can secure a new build home with only a 5% deposit, while the participating builder covers a significant portion. For example, if the builder contributes 4%, the buyer only needs to find 1%, making homeownership more attainable than ever before. 
• Flexible deposit solutions: Recognising the challenges of saving for a deposit, Deposit Unlock offers flexibility in deposit sourcing. Buyers can contribute their own 5% deposit, utilise cash incentives from the developer, or opt for a combination, significantly reducing the upfront financial burden. 
• Enhanced affordability: By reducing the deposit requirement, Deposit Unlock opens doors to homeownership for first-time buyers and those looking to move home, making new build dreams achievable for a wider audience. 
• Exclusive mortgage benefits: In addition to the 5% deposit option, Deposit Unlock mortgages provide access to exclusive benefits, including increased borrowing power, stable monthly payments, and flexible early repayment terms. 

Deposit Unlock mortgages are available exclusively through independent mortgage brokers. Buyers can receive personalised guidance and explore their mortgage options by connecting with a broker today. 

For further information and updates on Deposit Unlock, please visit our website or reach out to our dedicated team. 

Join Perenna in shaping the future of new build homeownership!

Correct at time of publishing.

We are thrilled to introduce the Perenna Own New Rate Reducer mortgage, an innovation that is set to redefine the landscape of new build home financing. 

Own New is an initiative that brings home builders and lenders together to help more people secure a new build home – and we’re proud to be part of it.  

Here’s why the Perenna Own New rate reducer mortgage stands out: 

Borrowers can access an exclusive mortgage product with a lower rate that is secured for the full mortgage term (no teaser rates here). Plus this is coupled with the signature perks of a Perenna mortgage: 

• Increased borrowing power – borrow up to 6 times income, subject to criteria  
• Monthly payments that don’t change 
• Short early repayment charge to give flexibility 
• No maximum age caps, giving more options in later life 

Interested?  

All Own New mortgages can be offered by approved Own New brokers only. If you’re not already on the panel, you can visit Own New to find out how to be added.  

We are excited about the transformative potential of the Perenna Own New Rate Reducer mortgage in the housing market. 

For further information and updates on our Own New Rate Reducer mortgage, please visit our website or reach out to our dedicated team. 

Join us in shaping the future of homeownership!

Correct at time of publishing.

We’re thrilled to announce our recent partnership with Octopus Energy, marking a significant milestone in our commitment to revolutionising mortgages and supporting sustainable living.  

This collaboration with Octopus Energy represents a monumental step forward in our mission to make sustainable homes more accessible and affordable for individuals and families across the board.  

This partnership is centred around our Zero Bills Mortgage, which has been created specifically for people looking to buy properties which Octopus have certified as eligible for their Octopus Zero Bills™  tariff. This game-changing tariff provides a one-of-a-kind energy solution, ensuring zero bills for or at least five years, guaranteed on designated Zero Bills™ homes.  

The combination of this mortgage product and this energy tariff means homeowners secure long-term certainty for their finances. Our Zero Bills mortgage enables homeowners to borrow more, responsibly, as our affordability assessment factors in zero energy costs into the calculation. This Zero Bills™ affordability boost could be worth up to £38k¹.  On top of this, with our Zero Bills mortgage, we’ll also offer a rate discount to reward borrowers for buying a sustainable home and supporting the green energy revolution.  

Together, with Octopus Energy, we are paving the way for a future where sustainability in home energy and home finances go hand in hand. By joining forces, we will lead the charge in transforming the mortgage industry, empowering individuals to embrace greener, more sustainable lifestyles.  

The future of homeownership is evolving, and we want you to be a part of it.   

¹ Affordability boost assumes dual applicants with 3 child dependants, an initial rate of 5.65%, and a Zero Bills discounted rate of 5.50%.

Correct at time of publishing.

We’re thrilled to announce a significant milestone: 1,000 brokers have joined the mortgage revolution and are part of our growing network!  

This achievement reflects our dedication to strengthening partnerships with brokers and our mission to create a nation of happy homeowners. We believe that everyone that can afford to own a home, should be able to own one. And we’re pleased to have a growing network of brokers to help make this happen.   

Our Head of Product & Proposition, John Davison, shared his thoughts: “Reaching 1,000 registered brokers is a testament to the dedication and hard work of our business development team and the trust placed in us by our valued brokers. Together, we’re transforming the landscape of homeownership, one partnership at a time.“ 

At Perenna, we work with a select panel of FCA Authorised Intermediaries. If you are a member of an approved Mortgage Club or AR Network that has joined our panel, you can register to submit business with us. 

We’re growing our panel all the time. If your network or club hasn’t signed up yet, don’t worry, you can join our mailing list to be kept up to date with our latest news. We look forward to you joining us in the future. 

Perenna is dedicated to providing exceptional support and services to our intermediary partners. For enquiries or more information, contact us at 0333 344 1013 or via webchat during office hours.

Correct at time of publishing.

Our first Perenna Live webinar, held on Wednesday 6th March, brought together brokers for an engaging exploration of Perenna’s latest offerings and broker support. 

Arjan Verbeek kicked off the webinar with an insightful introduction, emphasising Perenna’s mission to expand the mortgage market by offering innovative solutions. 

He discussed how Perenna aims to help individuals who face challenges in securing mortgages, including those with affordability constraints and older individuals looking to borrow into retirement. 

Colin Bell then delved into Perenna’s product offerings, highlighting the features that distinguish Perenna from traditional lenders. He elaborated on Perenna’s long-term fixed-rate mortgages, flexible terms, and innovative affordability assessment approach which help to maximise your client’s borrowing power.   

To see how Perenna can help with affordability, why not use our affordability calculator today? 

Colin also emphasised Perenna’s commitment to supporting brokers, describing the procuration fee structure which provides a fee at completion and trail commission when you review your customers’ needs.  

During the webinar, a prevalent question centred on assessing clients transitioning from working life to retirement. Arjan and Colin emphasised Perenna’s ‘age is just a number’; approach, which means we will not apply maximum age limits, ever. They also highlighted Perenna’s pragmatic approach to income assessment and enhanced affordability for borrowers nearing retirement. 

Another pertinent query addressed whether it’s suitable to commit customers to a 40-year term. Arjan and Colin clarified Perenna’s stance, emphasising flexibility over lengthy commitments. They clarified how Perenna’s funding model facilitates short ERCs and flexible fixed-rate terms, ensuring customers have tailored options without enduring prolonged obligations.  

We extend our appreciation to the entire team for orchestrating this successful webinar. The thought-provoking discussions and insightful queries underscore Perenna’s dedication to empowering brokers and customers alike. We eagerly anticipate hosting more of these  webinars in the future. Watch this space…  

In the meantime, if you are interested in exploring how Perenna can help enhance your clients’ mortgage experiences, check out our website or get in touch with our team who will be happy to chat. You’ll find our contact details here:  Contact Us | Perenna Brokers. 

We value your feedback! Share your thoughts on the webinar experience and suggest topics for future sessions by emailing broker@perenna.com

Correct at time of publishing.