SimplyBiz Mortgages has added Perenna Bank to its lender panel
SimplyBiz Mortgages, one of the largest mortgage clubs in the UK, has added long-term fixed rate mortgage lender Perenna Bank to its panel.
Perenna, set to launch to the wider market this year, offers long-term fixed rate mortgages aimed at providing borrowers with protection against rising interest rates.
The digital lender’s mortgage products include fixed terms ranging from 10 to 40 years, with an early repayment charge limited to the first five years. The lender also features interest-only and retirement interest-only options, alongside two specialist offerings for new builds. It imposes no maximum age limits, broadening access to its products for older borrowers.
SimplyBiz, which supports over 3,000 intermediary firms, provides regulatory and business support, software, and data to help financial advisers and intermediaries deliver better outcomes for clients. The firm also supports more than 400 financial institutions with product distribution services.
Phil Daffern (pictured left), head of lender relations at SimplyBiz Mortgages, said the addition of Perenna would benefit members with clients seeking alternative lending options.
“As the market continues to develop, our industry has responded with innovative solutions,” Daffern said. “Perenna offers more choice across a broad range of requirements, assisting those looking for stability and flexibility throughout all stages of the lending lifecycle.”
John Davison (pictured right), head of product, proposition, and distribution at Perenna, said the partnership will help the lender support aspiring and existing homeowners, including first-time buyers and those approaching retirement.
“Our new partnership with SimplyBiz helps us get a step closer to creating a nation of happy homeowners,” Davison added.
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