Perenna’s Mortgage Revolution: How long-term fixed rates could be the path to homeownership

At Perenna, we're not just offering mortgages; we're starting a revolution. 17 January 2024 by Abi Walker

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.