As retirement approaches, homeowners in the UK may find themselves in a tricky situation if they want access to a mortgage. Often the options on offer are limited.   

You may have even read stories about people who aren’t able to shop around or get a mortgage at all, simply due to their age.  At Perenna, we don’t think that’s right. We want to give people more options. So, we’re starting a mortgage revolution. Here’s how… 

Age is just a number 

We want to help homeowners make the most of their retirement. And for us, age is just a number. That’s why we don’t apply maximum age limits. Instead, we assess mortgage applications on property value and whether the monthly payments are affordable (maximum loan to value limits may apply). This could make a huge difference for borrowers who are looking for options in later life.  

Unlock the equity in your home 

Free up money to enjoy a financially responsible retirement while staying in the home you love. 

With a Perenna mortgage, you can use your home’s value to gain financial freedom and shape your dream retirement. 

Taking back your borrowing power 

Forget traditional restrictions; our approach lets you secure a mortgage that can suit your needs, no matter your age! 

Predictable payments 

With Perenna, you will never have to worry about your payments going up. 

If you want to know what you’ll pay each month, long-term fixed rate mortgages could be a great option. We allow you to fix your rate for up to 40 years, meaning you can plan your future with confidence and financial peace of mind. 

Why not use our mortgage calculator to get an idea of how much we could lend to you?  

Flexibility as standard 

We get it. Fixing your rate for up to 40 years is a long time. You don’t know how your life will look in that time. And that’s why we’ve made sure our mortgage product comes with flexibility as standard. 

We want to make sure our mortgage can fit around your life. If you decide to move home, you can take your mortgage with you, no problem. And if rates come down and you’d like to change your deal, or make unlimited overpayments, that’s absolutely fine. You can do so without charge after five years. 

Why Perenna?  

• No age limits, more options in later life 
• Monthly payments that don’t change 
• Short early repayment charge for flexibility 

At Perenna, our goal is to help you lead a secure and fulfilling life in your golden years. 

Join the Mortgage Revolution for predictable payments,  flexibility, and a commitment to your financial well-being. 

Your home is more than a place; it could be the foundation for an independent later life. Take charge of your homeownership journey and step into a future where every day truly belongs to you. 

You could lose your home if you don’t keep up your mortgage repayments.

Correct at time of publishing.

Through our long-term fixed rates, we are turning the mortgage world upside down. Here’s how… 

Maximising borrowing power 

If you’re a first-time buyer struggling with mortgage affordability, Perenna could have the solution to open the doors to your home buying dreams.  

We know the question of ‘how much can I borrow?’ can be a top priority. So, we’ve designed a product to help. With our mortgages, you can borrow up to six times your income, subject to criteria. This could act as a huge boost for those struggling to get onto the property ladder. Plus, as our rates are fixed for up to 40 years, we can help lower monthly payments.  

You can find out more in our blog here.

You may wonder how some people could borrow more with Perenna. The answer is simple. The amount you can borrow isn’t usually based on the headline rate. For short-term fixed rate products, it’s actually the rate you are charged after the fixed rate period ends that is important in working this out. You’ll often see this referred to as ‘standard variable rate’ or SVR.  

At Perenna, the rate is fixed for the whole term. The product does not revert to SVR. This means we don’t need to stress-test monthly payments. We know exactly what you’ll need to pay each month. And because we have this certainty, we may be able to lend more.  

Explore our previous blog for a deeper understanding of the impact of SVR on affordability.

Providing certainty  

Taking out a mortgage is probably the biggest financial commitment of someone’s life. Fixing your rate helps to provide certainty. With our longer-term fixed rates, the monthly payment is fixed for the full mortgage term.  This gives payment certainty and peace of mind. Plus, there’s no need to remortgage every few years. And no need to panic about rising interest rates. Borrowers can leave the worry behind and focus on living their lives. Exactly as it should be!  

Flexibility as standard 

We get it. Enjoying predictable payments sounds great. And not having to worry about remortgaging ever again is hugely attractive. But… fixing your rate for up to 40 years is a long time. How are you supposed to know what your life will look in that time? Don’t worry, you don’t need to. We understand that people want the protection of payments that won’t change. But they don’t want to feel trapped.  And that’s why we’ve made sure our mortgage product comes with flexibility as standard. 

We want to make sure our mortgage can fit around your life. If you decide to move home, you can take your mortgage with you, no problem. And if rates come down and you’d like to change your deal, or make unlimited overpayments, that’s absolutely fine. You can do so without charge after five years. 

Why Perenna? 

• Borrow up to 6 times your income, subject to criteria 
• Monthly payments that don’t change 
• Short early repayment charge to give you flexibility 
• No maximum age caps, giving you more options in later life 

Curious about how much you could borrow? Try our mortgage calculator:

Mortgage Calculator | Perenna  

Join the Mortgage Revolution 

At Perenna, we’re on a mission to break down barriers, and make homeownership accessible.  

Whether empowering first-time buyers with increased affordability or providing payment certainty with our fixed-rate terms, we’re committed to revolutionising the mortgage landscape.  

Explore the power of our revolutionary mortgage here:

Join the Mortgage Revolution | Perenna  

You could lose your home if you don’t keep up your mortgage repayments. 

Correct at time of publishing.

Why choose Perenna for your homeownership journey? 

At Perenna, we understand the importance of this milestone and are committed to making your home buying journey as seamless as possible. 

Financial stability: 

Knowing what to budget is key for buying a home. At Perenna, the rate is fixed for the whole term. It does not change to a variable rate. This means we do not need to stress test your payments. You will know exactly what you will need to pay each month. Say goodbye to nasty surprises and hello to payment certainty.  

Personalised solutions: 

Each home buying journey is different. That is why our mortgages are designed to fit your life. Whether you are buying for the first time or moving, Our goal is to provide a mortgage that meets your needs. 

Move with freedom: 

At Perenna, we are flexible That is why you can take your mortgage with you when you move home or change your mortgage to another lender or product without an early repayment charge, after 5 years. 

Guidance at every step: 

We are more than a mortgage provider; we are your partner. From simplifying terms to discussing home trends, we are here to support you every step of the way. For more details on our mortgage offering, visit our website.  

Your next steps with Perenna: 

Are you ready to start your homeownership journey? Want to find out if Perenna could help you? Use our calculator to find out how much you could borrow. It is completely confidential, does not affect your credit score and should only take a few minutes.

You could lose your home if you don’t keep up your mortgage repayments.

 Correct at time of publishing.

Thinking of giving your home a makeover in 2024? Want to know what’s hot and what’s not? We’ve done our research to bring you five trends to consider for a simple and stylish home this year: 

1. Eco-Friendly upgrades

Make your home more eco-friendly with efficient appliances and heating systems. These choices create a healthier atmosphere and enhance how well your home functions. Choices like these can benefit your home and the planet. What’s not to like?  

2. Future-ready changes

Plan ahead. Think about future buyers. Improvements such as a new patio, an up-to-date kitchen, or smart home features can make your home more appealing. When making upgrades to your home, you should make sure they add value that lasts. 

3. Cosy vibes at home

Create a cosy atmosphere. Leave behind industrial interior design tones. Adopt warmth and comfort with colours and materials like reclaimed wood. Changes like this will add a warmer and more modern feel to your home. And will help create a perfect place to snuggle up in on an evening.  

4. Improve your home with smart technology

Is it time to upgrade your home with smart tech for added convenience and energy efficiency? Life can be hectic so smart switches, outlets, and thermostats can all make your day-to-day life easier. Smart tech can add to your living experience, creating a more connected and efficient home that suits your lifestyle.   

5. Versatile spaces

Embrace the trend of versatile spaces in your home. Create areas that serve multiple purposes. How about a home office that doubles as a gym or gaming room? Or make use of under-stair spaces and hallways to optimise on storage without the need to expand the footprint of your home. This trend ensures your living space is functional and adaptable.  

Planning New Year home improvements? Why not keep these trends in mind to make a home that suits your lifestyle. Your home is where your heart is. Make it a place you love. 

Find out how Perenna can make your dream home a reality. Use our calculator to find out how much you can borrow. Start your home transformation today! 

Correct at time of publishing.

Join us as we look at trends that are changing the way we live and buy homes. 

From countryside living to flexible housing, find out how Perenna is here to make homeownership simpler. 

Rural Living 

More people are working from home. As a result, living close to the workplace isn’t as much of a priority for some. This raises the demand for homes in the countryside. Are you fed up of the big city? Dreaming of a rural life? Why not see if a Perenna mortgage can help?   

London house sales decline 

London’s home buying is slowing down. Could neighbouring and more northern cities be more attractive options? During 2023, we’ve already seen an increase in investors looking to northern cities such as Manchester, Leeds and Liverpool for better rental yields. Is this a trend that will stay?   

Greener living 

More people want eco-friendly living. And we want to help people make greener choices. So, we’re working hard behind the scenes to create a product that does just that. Read about Green Mortgages here. 

Flexible homes for life 

The home office rarely existed a few years ago. And post covid, it is becoming the norm. We’ve all seen that when life changes, so can your home. But it doesn’t need to stop with your home. Your mortgage can be flexible too.

Perenna offers long-term and adaptable mortgages. This means borrowers can fix their rate for up to 40 years, so they know exactly what they must pay each month for their whole mortgage term. No teaser rates, no rising payments, no shocks. 

As your lifestyle evolves, we make sure your homeownership journey is as flexible as you need it to be. With early repayment charges for only five years, customers are given the best of both worlds – certainty and flexibility. 

See if Perenna can help 

Find out how we can help. Use our calculator to find out how much you could borrow. 

You may lose your home if you don’t keep up your mortgage repayments.

Correct at time of publishing.

Perenna is thrilled to announce that we have been crowned the Banking Innovation Newcomer in the Finder’s Banking Innovation Awards 2023. 

We are committed to pushing the boundaries of innovation in banking, and this award confirms our dedication to transforming the mortgage industry. 

As we work hard to build a nation of happy homeowners, we are delighted to share this exciting news.

Thank you for your continued support and for helping us lead the way in innovation in finance. 

Correct at time of publishing.

Embracing longer terms 

Taking the first step on to the property ladder can often be hard for first-time buyers. Many people now choose mortgages lasting 35 years or more. This change shows the need for new solutions to make home buying easier, especially for those starting on the property ladder. 

Financial impact explained 

When you extend the time to repay your mortgage, you can pay less each month. This is shown below. If you borrow £200,000 with an interest rate of 5.5%: 

[source – https://www.landc.co.uk/calculators/how-much-will-my-mortgage-cost/] 

 This means if you choose a 40-year term instead of a 25-year term you pay £196 less every month. Or £2,352 less each year.  

But, it’s important to know that the total interest you pay increases by £126,687. 

Borrowing potential 

Extending your mortgage period may cut monthly payments, but it doesn’t automatically boost how much you can borrow. If your fixed rate is set for a short amount of time, lenders aren’t sure of the rate you’ll be paying in the future. So, they need to stress test to work out how much customers can afford to borrow. You can learn more about this here. 

Our approach 

Our mortgage is unique. It fixes your interest rate for the full term. This means you’ll never have to worry about rates rising. Plus, our mortgage can fit around your life. You can take your mortgage with you when you move home. And after five years, if you’d like to change your mortgage deal – no problem. You can move to another lender or product without charge.  

Could you borrow more with Perenna? 

We will also lend up to six times a borrowers’ income, subject to criteria. This could help many first-time buyers who struggle with affordability. 

So why not use our calculator to find out how much you may be able to borrow? It’s completely confidential, does not affect your credit score and should only take a few minutes. 

You could lose your home if you don’t keep up your mortgage repayments.

Correct at time of publishing.

We have launched the “highest affordability” ¹ mortgage in the market to first-time buyers.

We’ve officially opened up our flexible long-term fixed rate product to new purchase customers and first-time buyers, within our pilot to selected borrowers.

We will lend up to 95% LTV, with fixed-rate terms up to 40 years, helping borrowers lower their monthly payment amount. We will also lend up to six times a borrowers’ income, subject to criteria, which could act as a significant lending boost for many first-time buyers who consistently struggle with affordability.  

A longer fixed rate term allows many borrowers a higher affordability boost compared to those on a short-term fixed rate mortgage. This is because of the way current mortgage products are designed which place all the market risk on borrowers. Once this is removed, through fixing the rate for the entire term, first time buyers could borrow more. This is the innovation we offer. 

For example, on a £60k joint income, a first-time buyer could borrow up to £355k with us, which is about £70k more than the closest high street lender.2

This could make a massive difference for first time buyers. As a result, borrowers looking to maximise their borrowing responsibly should consider a longer-term fix compared to a shorter-term fix like a 2 year or 5-year fixed rate mortgage.  

 The product also only carries declining early repayment charges (ERCs) for the first five years, making it highly flexible. This gives borrowers certainty that their payments will never increase, as well as allowing them to change when the time is right for them. 

Colin Bell, COO & Co-Founder of Perenna comments:  

“We’re really excited to open up the Perenna Mortgage to first time buyers and new purchase customers. First time buyers are constantly struggling to get onto the housing ladder due to affordability issues – whether that’s saving up enough for a small deposit or being able to borrow enough to afford a home they really want. The Perenna Mortgage is the complete mortgage product – increased affordability combined with long-term stability and flexibility.” 

Arjan Verbeek, CEO & Co-Founder of Perenna comments: 

“We believe in unlocking the power of homeownership without having to sacrifice the amount you can borrow – borrowers should be able to have both their cake and eat it. As we remove market risk from borrowers, customers can borrow what they actually can afford, which in some cases can be on average up to 30% higher than the high street lenders.3 With our full unrestricted UK banking license and recent funding round, we are ready to deliver the much-needed changes in the UK mortgage market, and start delivering better outcomes for homeowners across the country.” 

How much can you borrow?

Want to find out if Perenna could help you? Why not use our calculator to find out how much you could borrow? It’s completely confidential, does not affect your credit score and should only take a few minutes. If you’re eligible to apply, the quote will also let you know how to access a Perenna mortgage.

You could lose your home if you don’t keep up your mortgage repayments.

Notes:

• Footnote 1 – “Highest affordability” defined as highest borrowing amount by use of intermediary mortgage affordability calculators across leading high street lenders2, as at 13 November 2023 
• Footnote 2 – “Leading high street lenders” defined as those who control 75% of the market by gross lending during 2022 – MM10, UK Finance (as at 13 July 2023) 
• Footnote 2 – “Leading high street lenders” defined as – HSBC, Natwest, Nationwide, Santander, Virgin Money, Lloyds Banking Group, Barclays 
• Footnote 3 – Data chart, see below, as at 13 November 2023:

All information correct at time of publication

During #TalkMoneyWeek, we are diving into chats about money and financial well-being. In these times of rising costs, it is vital to have open and honest money talks. 

This year’s theme is simple: “Do one thing.” It helps to take a single step toward better financial well-being. We believe small actions can lead to big changes. They just need to be tailored to your own situation. 

Wondering what your “One Thing” could be? Here are some ideas: 

Teach your kids about money: Instil lessons about money, saving, and responsible spending from an early age. 

Create a weekly budget: Plan your weekly spending to take control of your money. 

Set clear money goals: Whether it’s saving for your dream home, paying off debts, or cutting costs, clear goals are crucial. 

Declutter and earn: Turn unused items into extra cash by selling them online. 

Use online money calculators: These tools help manage your money and plan for the future. Why not use our mortgage calculator to see how much you may be able to borrow? It’s completely confidential, does not affect your credit score and should only take a few minutes.  

Seek professional advice and support: Reach out if you feel overwhelmed. There are always experts that can help.   

At Perenna, we understand the importance of financial stability. For so many, the journey to owning their home is the most important “One Thing.”  That’s where we come in.  We are here to support your path to owning a home.  

We think people are happiest when they are not worrying about money. That means less focus on rising interest rates. And more focus on enjoying your home and living your life.  That is why we offer long-term fixed rate mortgages. By fixing your rate for the full mortgage term, you will know exactly what you must pay each month. No teaser rates, no rising payments, no shocks. 

Engage with us on social media, share your “One Thing,” and let’s embark on this journey together.

To understand more about what we offer, visit www.perenna.com. 

You could lose your home if you don’t keep up your mortgage repayments.

Correct at time of publishing.

Getting your foot on the property ladder is a huge milestone in most people’s lives. It’s an exciting time but can be equally as daunting.

Firstly, there’s the thrill of finding your first home. And then there’s the realisation that you’re probably making the biggest commitment of your life.

So, how do you know that you’re making the right decision? Of course, that depends on what matters to you and your own situation. But, here at Perenna, we think we have the perfect combination for First Time Buyers. Stability with flexibility.

The search for stability

When thinking about buying your first home, stability is important. Whether you’re thinking about money, home location or simply how this could affect your future, having a stable outlook can be very reassuring.

That’s where we come in.

We think people are happiest when they aren’t worrying about money. That means less focus on rising interest rates and high energy bills. And more focus on enjoying your home and living your life.  That’s why we offer long-term fixed rate mortgages. By fixing your rate for the full mortgage term, you’ll know exactly what you must pay each month. No teaser rates, no rising payments, no shocks.

Flexibility as standard

Plus, our mortgages are designed to fit around your life. That’s why you can:

• Take your mortgage with you when you move home
• Change your mortgage to another lender or product without charge, after 5 years

How much can you borrow?

Want to find out if Perenna could help you? Why not use our calculator to find out how much you could borrow? It’s completely confidential, does not affect your credit score and should only take a few minutes.

You could lose your home if you don’t keep up your mortgage repayments.

Correct at time of publishing.