The Right Mortgage & Protection Network has today (13th June 2024) announced the addition of Perenna Bank to its lender panel.
The Right Mortgage appointed representative (AR) firms and their advisers will be able to access Perenna’s range of long-term, fixed-rate mortgages, fixed for the full term between 15 and 40 years, with a five-year early repayment charge (ERC).
Perenna’s range of mortgages are available to first-time buyers, home movers, remortgagors, and those who want to borrow into retirement, with Perenna recently launching both interest-only options as well as RIO (retirement interest-only) products for borrowers over the age of 50.
Perenna’s mortgage criteria includes: no SVR-based stress tests, up to six times income (up to 95% LTV where employed income is £50k and above), a short ERC, no maximum age limit. Procuration fees payable at completion as well as trail commission when the adviser reviews the client’s needs.
The lender provides its full lending criteria via its website, as well as affordability calculators for both standard and RIO borrowers, an FAQ section, and comprehensive details on how to conduct business with it.
Martin Wilson, CEO at The Right Mortgage & Protection Network, commented:
“New lenders, especially those who come to market with a unique proposition, are always of interest to both us as a network and our AR firms, so it is very pleasing to be able to add Perenna to our lender panel today. With different wants and needs, borrowers are often looking for a range of options, and for those who want greater payment certainty and stability over a longer-term, Perenna’s products might well be the most appropriate option. Advisers want access to these different types of products so they’re able to provide the right product solution and outcome, so we’re looking forward to working closely with Perenna to ensure our firms are fully aware of its mortgage options, lending criteria and the benefits it can deliver to both them and their clients.”
Deb Reeves, National Account Manager at Perenna, said:
“We are delighted to be working with The Right Mortgage & Protection Network and bringing the benefits of flexible, long-term fixed rates to more broker partners. At Perenna we want to create a nation of happy homeowners and the addition of this new and important partnership helps us to do this through the expert eye of The Right Mortgage AR firms.”
