Perenna Bank has renewed and significantly expanded its warehouse funding line with ABN AMRO.

The arrangement will see the existing £200 million facility extended through to July 2026, providing a platform to scale originations and launch new products aimed at addressing gaps in the UK mortgage market. The facility was first put in place in April 2024.

Perenna’s proposition centres around long-term fixed-rate mortgages, a model that remains rare in the UK but is common in continental Europe and the United States. The company has positioned itself as a disruptor to the traditional short-term fix model and is increasingly targeting underserved segments, including older borrowers and those seeking greater affordability and security.

The enhanced warehouse line is intended to fund both Perenna’s core mortgage offering and innovation through third parties, including its recently announced partnership with Gen H, which aims to further widen access to homeownership.

Colin Bell, co-founder and chief operating officer, said the extension of the ABN AMRO relationship represented a significant endorsement of Perenna’s origination model.

“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,” he said.

“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.”