Perenna has reduced rates across its residential offering and has introduced a new 10-year fixed minimum term for purchase and remortgage.

Across its remortgage range, Perenna has reduced rates by up to 38bps, now starting from 5.71% at 60% LTV with a £1,999 fee.

Improvements have also been made to Perenna’s purchase range with rates reduced by up to 27bps, now starting from 5.15% at 60% LTV with a £1,999 fee. The lender has also lowered rates by up to 50bps across its RIO products, starting at 5.79% at 60% LTV with a £1,999 fee.

Perenna’s flagship long-term fixed-rate mortgage products give borrowers added security, flexibility and affordability. The new 10-year minimum term offered across most of its range provides borrowers with more choice, now allowing brokers to advise on fixed terms of between 10 and 15 years across its purchase and remortgage range.

Colin Bell, Perenna’s co-founder & COO, 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.”