Perenna cuts residential and RIO rates by up to 0.47%

Perenna has lowered rates across its purchase, remortgage and retirement interest-only (RIO) products. 

Perenna’s RIO mortgages have been reduced by 47bps, now starting from 5.43% at 60% LTV. The remortgage RIO product has also seen a reduction of 27bps, starting from 5.56% at 60% LTV.

Elsewhere, the lender has dropped rates on its flagship purchase product by 21bps, with rates available from 5.43% at 60% LTV. 

The residential remortgage product has also been reduced, dropping by 16bps to 5.55% at 60% LTV.

All products come with a £1,999 fee.

Colin Bell, co-founder and COO of Perenna, commented: “We are further increasing our lending boost at Perenna with price reductions across our range. Our innovative products continue to solve many borrower use cases and with these latest reductions, we will help even more borrowers, whether those purchasing the home they really want, or those who need to remortgage during retirement. 

"To make the most of these changes, try out our updated maximum lending calculator to explore tailored scenarios for your clients. Plus, don't forget about the interest rate protection we offer on all our mortgages, giving you and your clients added peace of mind.”