Perenna has broadened its range of long-term fixed rate mortgages, introducing new seven, 10 and 15-year products designed to offer borrowers greater stability and control in an unpredictable market.
The lender, which specialises in long-term fixed rate lending, said the move reflected rising demand for mortgages that provide both certainty and flexibility.
The new products are available up to 95% loan-to-value, with fixed monthly repayments and no early repayment charges if the borrower moves home or sells their property.
Early repayment charges will only apply if the customer remortgages during the fixed period or makes annual overpayments exceeding 10%.
MODERN LIFESTYLES
Perenna said the new products were tailored to the way modern homeowners live, as many now stay in their first property for shorter periods before moving. By aligning fixed terms with typical occupancy periods, borrowers can secure a stable rate for as long as they are likely to remain in their home, while retaining the freedom to move without penalty.
The new range will be available through brokers from 9am on Tuesday 4 November, with rates starting at 4.89% for a seven-year fixed purchase at 60% LTV and a £995 fee.
Colin Bell, chief operating officer at Perenna, said: “Consumer demands are constantly evolving, but the traditional mortgage market hasn’t kept pace.
“Borrowers are looking for security without constraints. The UK’s commitment to short-term solutions belongs to the era of sub 1% interest rates and no longer serves a generation of borrowers that prioritises stability, consistency, and flexibility over the lowest possible cost.”
He added: “Perenna’s new long-term fixed rate mortgages give homeowners the freedom to plan for both the near future and the long term, without financial penalties.
“Homebuying is widely accepted as a means of building wealth, yet with volatile interest rates and worsening inflationary pressures, homeowners are often left struggling with mounting household costs.
“Perenna’s long-term fixed rate solutions remove this uncertainty while enabling borrowers to budget better.”
