Its AR firms and their advisers can source the lender's long-term fixed rate products
The Right Mortgage & Protection Network has recently announced the addition of Perenna Bank to its lender panel.
Appointed representative (AR) firms and their advisers within The Right Mortgage network will now have access to Perenna’s long-term fixed rate mortgages, which are fixed for terms ranging from 15 to 40 years with a five-year early repayment charge (ERC).
Perenna’s mortgage products cater to first-time buyers, home movers, remortgagors, and those borrowing into retirement. The lender recently introduced interest-only options and retirement interest-only (RIO) products for borrowers over 50.
Key features of Perenna’s mortgage criteria include: no SVR-based stress tests, lending up to six times income (up to 95% LTV where employed income is £50,000 and above), a short ERC, and no maximum age limit. Procuration fees are payable upon completion, and advisers receive trail commission when reviewing a client’s needs.
“New lenders, especially those who come to market with a unique proposition, are always of interest to both us as a network and our AR firms, so it is very pleasing to be able to add Perenna to our lender panel today,” said Martin Wilson (pictured left), chief executive of The Right Mortgage & Protection Network.
“With different wants and needs, borrowers are often looking for a range of options, and for those who want greater payment certainty and stability over a longer term, Perenna’s products might well be the most appropriate option.
“Advisers want access to these different types of products, so they’re able to provide the right product solution and outcome, so we’re looking forward to working closely with Perenna to ensure our firms are fully aware of its mortgage options, lending criteria, and the benefits it can deliver to both them and their clients.”
Deb Reeves (pictured right), national account manager at Perenna, said they were delighted to be working with The Right Mortgage & Protection Network and bringing the benefits of flexible, long-term fixed rates to more broker partners.
“At Perenna, we want to create a nation of happy homeowners, and the addition of this new and important partnership helps us to do this through the expert eye of The Right Mortgage AR firms.”
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