Long-term fixed rate lender Perenna will reduce residential rates and has brought out a 10-year fixed rate deal.
In Perenna’s remortgage range, the long-term fixed rate specialist has cut rates by up to 0.38%, with pricing starting from 5.71% at 60% loan to value (LTV) with a £1,999 fee.
Within its purchase range, rates have been cut by up to 0.27% and now begin at 5.15% at 60% LTV with a £1,999 fee.
The lender has also cut rates by up to 0.5% across its retirement interest-only (RIO) deals, starting at 5.79% at 60% LTV with a £1,999 fee.
Perenna’s 10-year minimum term is offered across most of its range and gives brokers and borrowers more choice of long-term fixed rate deals.
It allows brokers to advise on long-term fixed rate terms of between 10 and 15 years in its purchase and remortgage range.
Colin Bell (pictured), co-founder and chief operating officer at Perenna, said: “Perenna continues to be one of the few lenders in the UK to offer long-term fixed rate products, and we are constantly looking to expand and strengthen our offering to provide greater choice and flexibility for our customers.
“With the latest reduction to our minimum term and rates, we aim to help as many borrowers as possible, whether they be first, second or later-life buyers.”
Perenna has been broadening its proposition, launching a long-term fixed rate retrofit discount range earlier this month.
The firm has also been growing its distribution, joining later life lending platform Air along with TMA and Quilter’s lending panel.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
