Perenna launches retirement interest-only mortgage

Rates start from 5.84% with products available up to 60% LTV.

Related topics:  Later Life,  Mortgages
Rozi Jones | Editor, Barcadia Media Limited
5th February 2024
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Perenna has launched flexible long-term fixed rate retirement interest-only (RIO) mortgage, expanding its product range.

Perenna’s RIO products will be available to borrowers over the age of 50, and up to a maximum of 60% LTV, with rates starting at 5.84%.

Perenna has also added an interest-only option to its product range, up to a maximum of 75% LTV, on offer to both purchase and remortgage customers.

Perenna recently launched in Q4 2023 with its flexible long-term fixed rate repayment mortgage, which combines increased affordability through no reversion stress test and early repayment charges for only the first five years.

Colin Bell, co-Founder and COO of Perenna, said: “Our RIO is a game changer for brokers and borrowers alike. Those aged over 50 have narrow options when it comes to mortgage products. With our market leading long-term fixed rate RIO, we provide a great choice for those in or approaching retirement, with ERC for only five years putting you in control."

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