Perenna introduces 10-year minimum terms

Perenna has lowered rates across its residential offering and has introduced a new 10-year fixed minimum term for purchase and remortgage. 

The new minimum term offered across most of its range allows brokers to advise on fixed terms of between 10 and 15 years across its purchase and remortgage range.

Across Perenna’s remortgage range, rates have reduced by up to 38bps, now starting from 5.71% at 60% LTV with a £1,999 fee. 

Improvements have also been made to Perenna’s purchase range with rates reduced by up to 27bps, now starting from 5.15% at 60% LTV with a £1,999 fee. Perenna has also lowered rates by up to 50bps across its retirement interest-only products, starting at 5.79% at 60% LTV with a £1,999 fee.  

Colin Bell, co-founder and COO of Perenna, commented: “Perenna continues to be one of the few lenders in the UK to offer long-term fixed-rate products, and we are constantly looking to expand and strengthen our offering to provide greater choice and flexibility for our customers. With the latest reduction to our minimum term and rates, we aim to help as many borrowers as possible, whether they be first, second or later-life buyers.”