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."