Perenna has completed the integration of second charge lender Scroll Finance as it prepares to widen its presence in specialist mortgages, including a planned move into first charge buy-to-let later this year.

Scroll, which Perenna acquired last year, will continue to operate as a separate brand focused on second charge lending.

The business was founded in 2021 and offers second charge products including two-year and five-year home equity loans, home equity lines of credit and multi-property loans. Its range also includes products for buy-to-let investors.

Perenna said bringing Scroll into its wider operations would give the group additional capacity to develop products across different areas of the mortgage market.

The lender is now planning to launch its own first charge buy-to-let proposition later this year, extending its specialist lending range beyond Scroll’s existing second charge business.

SALES APPOINTMENT

Perenna has also appointed Mil Consiglio as head of sales, with responsibility for increasing awareness of the expanded proposition, developing broker relationships and supporting further growth into specialist lending.

Consiglio has 16 years of business development experience in the mortgage industry, including roles at Lloyd’s Bank and Vida Homeloans. He joins from CHL Mortgages and will report to Ashish Kashyap, who became deputy CEO and chief commercial officer following the Scroll acquisition.

Kashyap said: “Perenna was founded to bring innovation and competition to the UK mortgage market, and it has had significant early success.

“As the business matures, we have the opportunity to diversify into segments of lending where borrowers and brokers continue to be underserved.

“Bringing together Perenna and Scroll’s complementary expertise gives us a strong platform from which to accelerate that ambition.

“Scroll brings established expertise in second charge lending, while our planned entry into first charge buy-to-let will further broaden the solutions we can offer.

“Mil joins us at an exciting point in that journey. His experience and relationships across the mortgage market will be invaluable as we strengthen our engagement with brokers, build awareness of our expanding proposition and pursue the next phase of our growth.”

Consiglio added: “Perenna has a clear ambition to grow its presence in specialist lending, and the combination of Perenna and Scroll gives us a strong proposition to take to the broker market.

“My focus will be on supporting the continued evolution of our proposition, ensuring we deliver excellent outcomes for customers and equip our distribution teams with the solutions, processes and support needed to serve the broker market effectively.

“With first charge buy-to-let to come, we have a real opportunity to broaden our reach and help more customers meet their borrowing needs.”