Perenna, the long-term fixed rate mortgage lender, has launched a new range of seven, 10, and 15-year fixed rate mortgage products, available up to 95% LTV.
These mortgages are open to anyone who meets Perenna’s standard affordability criteria - from first-time buyers to later-life borrowers.
Customers can enjoy stable monthly repayments for seven, 10, or 15 years while keeping the flexibility of a shorter fixed term, with no early repayment charges if they move or sell their home. Early repayment charges only apply if they remortgage within the fixed period or overpay by more than 10% per year.
The new products will be available exclusively through brokers from Tuesday 4th November, with rates starting at 4.89% for a seven-year fix at 60% LTV, with a £995 fee.
Colin Bell, chief operating officer at Perenna, said: “Consumer demands are constantly evolving, but the traditional mortgage market hasn’t kept pace. Borrowers are looking for security without constraints. The UK’s commitment to short-term solutions belongs to the era of sub 1% interest rates and no longer serves a generation of borrowers that prioritises stability, consistency, and flexibility over the lowest possible cost.
"Perenna’s new long-term fixed rate mortgages give homeowners the freedom to plan for both the near future and the long term, without financial penalties.
“Homebuying is widely accepted as a means of building wealth, yet with volatile interest rates and worsening inflationary pressures, homeowners are often left struggling with mounting household costs. Perenna’s solutions remove this uncertainty all while enabling borrowers to budget better.”
