Perenna to launch first charge buy-to-let product

Perenna has completed the integration of specialist second charge lender Scroll Finance, as it continues to expand its presence in specialist lending.

Founded in 2021, Scroll's proposition includes second charge mortgages for buy-to-let investors, including two and five-year home equity loans, home equity lines of credit and multi-property loans.

Perenna acquired Scroll last year, and the business has now been integrated into Perenna’s operations. Scroll will continue to operate as a distinct brand focused on second charge lending.

The integration brings together the expertise of the two businesses and is intended to provide greater capacity for product development and expansion across different areas of the lending market.

Perenna also plans to launch its own first charge buy-to-let product later this year. The move will broaden the lender’s specialist mortgage proposition and extend its offering into areas of the market it considers underserved.

Alongside the integration, Perenna has appointed Mil Consiglio as head of sales.

Consiglio will be responsible for increasing awareness of Perenna’s expanding proposition, developing broker relationships and supporting the lender’s expansion into new areas of the mortgage market.

He brings 16 years of business development experience from across the industry, including roles at Lloyd’s Bank and Vida Homeloans. He joins Perenna from CHL Mortgages and will report to Ashish Kashyap, who was appointed Deputy CEO and chief commercial officer following the acquisition of Scroll.

Ashish Kashyap, deputy CEO and chief commercial officer of Perenna, commented: “Perenna was founded to bring innovation and competition to the UK mortgage market, and it has had significant early success. As the business matures, we have the opportunity to diversify into segments of lending where borrowers and brokers continue to be underserved.

“Bringing together Perenna and Scroll’s complementary expertise gives us a strong platform from which to accelerate that ambition. Scroll brings established expertise in second charge lending, while our planned entry into first charge buy-to-let will further broaden the solutions we can offer.

“Mil joins us at an exciting point in that journey. His experience and relationships across the mortgage market will be invaluable as we strengthen our engagement with brokers, build awareness of our expanding proposition and pursue the next phase of our growth.”

Mil Consiglio, head of sales at Perenna (pictured), added: “Perenna has a clear ambition to grow its presence in specialist lending, and the combination of Perenna and Scroll gives us a strong proposition to take to the broker market.

“My focus will be on supporting the continued evolution of our proposition, ensuring we deliver excellent outcomes for customers and equip our distribution teams with the solutions, processes and support needed to serve the broker market effectively. With first charge buy-to-let to come, we have a real opportunity to broaden our reach and help more customers meet their borrowing needs.”