It plans to add more distribution partners around the UK
Digital mortgage lender Perenna has partnered with two of the UK’s largest appointed representative (AR) networks in preparation for the launch of its broker panel early next year.
The lender, which recently received its full banking licence from the Prudential Regulation Authority and Financial Conduct Authority and began an exclusive pilot phase with L&C Mortgages this autumn, has announced its partnership with Mortgage Advice Bureau and Stonebridge and its intention to add more distribution partners around the UK.
Perenna said its mortgage offering fixes the interest rate for the full term of the loan. It added that by removing interest rate risk, borrowers could receive an affordability boost compared to those applying for a two-year or five-year fixed rate mortgage. The lender also offers up to 95% loan-to-value, up to six times the borrower’s income, and no age caps, subject to criteria.
“Stonebridge and Mortgage Advice Bureau are the perfect partners for us to launch with, offering nationwide coverage and a high-quality service to customers,” remarked John Davison (pictured), head of product, proposition, and distribution at Perenna.
“Perenna offers a new kind of mortgage, giving homeowners improved affordability, true long-term security, and flexibility. Our product ensures they never have to pay to remortgage again and protects them from experiencing the rate shocks we’re seeing in the market right now.”
Commenting on the partnership, Danny Belton, head of lending at Mortgage Advice Bureau, said it was excited to collaborate with a new lender who will bring fresh perspectives, cutting-edge products, and criteria that have been proven to perform well in an international market.
“The Perenna proposition will be well suited to customers who are looking for long-term fixed products,” he added.
Jo Carrasco, business partnerships director at Stonebridge, said they, too, were excited to be in a partnership with Perenna.
“We believe their innovative products and ambition to change the shape of the market will be well received by our appointed representative firms,” Carrasco stated.
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