Its member firms gain access to the lender's range of 10- to 40-year fixed rate products
Paradigm, a provider of mortgage, protection, and compliance services, has added long-term fixed rate mortgage lender Perenna to its panel.
The addition allows Paradigm member firms access to Perenna’s range of 10- to 40-year fixed rate mortgage products, which include a short early repayment charge (ERC) period of five years.
“Opening up as much mortgage product choice to our member firms is of absolute paramount importance for us at Paradigm,” said Richard Howes (pictured left), director of mortgages at Paradigm. “We’re therefore very pleased to be able to bring Perenna on panel today.
“Longer-term, fixed rate mortgage options can be a viable option for a whole host of mortgage borrowers from first-time buyers to those who need lending into later life and retirement, especially for those who want absolute certainty of payment over a longer period.
“We’ll be working closely with the team at Perenna to introduce them to our member firms and to ensure they are aware of these product options, the criteria and the USPs that come with these mortgages.”
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Perenna’s product line also offers interest-only and retirement interest-only (RIO) options, alongside Deposit Unlock and Own New schemes for customers seeking new build homes.
Key features of Perenna’s mortgages include payment certainty with no teaser rates or rising payments, the ability to review or change mortgages without penalty after five years, no maximum age limit, and a borrower-friendly approach with no stress tests based on standard variable rates.
“Our priority is to bring change to the mortgage market and help even more people onto the property ladder by offering access to a wide and flexible range of mortgages,” said John Davison (pictured right), head of product, proposition and distribution at Perenna. “Our new partnership with Paradigm helps us get a step closer to achieving this goal, working with and supporting their members in creating a nation of happy homeowners.”
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