Perenna has announced rate reductions of up to 0.21% to its recently launched five-year fixed rate mortgage products.
Rates now start from 4.53% at 60% LTV, rising to 4.89% at 95% LTV, and come with a £995 fee.
The products, which are available to anyone who meets Perenna’s standard affordability criteria, are exclusively available via brokers.
With Perenna’s recently expanded suite of products, borrowers can access fixed yearly terms of five, seven, 10, 15, or even the full term of the mortgage up to 40 years.
The 5-15 year range is also flexible, with customers not paying any early repayment charges in the fixed period if they overpay by up to 10% or sell the property.
Colin Bell, founder and chief operating officer at Perenna, commented: “We’ve had a fantastic reception so far for our increased range of long-term fixed rate products and this rate cut is a show of our commitment to moving quickly with the market’s needs. Perenna will do everything we can to deliver viable products for consumers wanting to take full advantage of the benefits that long-term fixes provide.
“We will continue to move into areas of the market where we see opportunity to deliver innovation - improving access, getting families onto the ladder, and raising the health of the wider mortgage ecosystem through product diversity.”
