Perenna Bank has announced the renewal and expansion of its warehouse facility funded by ABN AMRO Bank to fund its growing mortgage pipeline.
Perenna first announced its initial warehouse facility partnership with ABN AMRO Bank in April 2024. Under an expanded agreement with the Dutch bank, Perenna will see its £200 million warehouse renewed until July 2026.
The funding will be used to support demand for Perenna’s existing mortgage product suite, bring to market new products, as well as support its ability to fund innovation through third-parties, such as its recently announced partnership with Gen H.
Co-founder and chief operating officer, Colin Bell (pictured), commented: “Extending and enhancing our relationship with ABN AMRO marks a critical step for Perenna’s ongoing growth as we continue to embed and broaden our proposition in the UK market.
“This funding facility enables us to provide more lending to develop, deploy and support the innovative products that the market needs in order to confront our ongoing housing affordability crisis, and deliver against our mission of creating a nation of happy homeowners. Whether first-time buyers unable to secure large enough loans, families unable to upsize as they grow, older borrowers locked out of the mortgage market, or borrowers looking for long-term security, we are committed to solving some of the housing market’s biggest market challenges, and scaling as we do so.”
