SimplyBiz Mortgages has announced the addition of market disrupter Perenna Bank to its lender panel.

Perenna offers flexible long-term fixed rate mortgages that protect customers from rising interest rates, providing increased affordability (subject to criteria), and has no maximum age limits.

It offers 10 to 40-year fixed rate mortgages, with an early repayment charge of just five years, and its products include interest-only and retirement interest-only options, as well as two specialist new build propositions.

Phil Daffern, head of lender relations at SimplyBiz Mortgages, said: “The addition of Perenna to our panel will support members who have clients looking for alternative lending arrangements, and we’re delighted to welcome them on board.

“As the market continues to develop, our industry has responded with innovative solutions. We can see this innovation in Perenna’s services as it offers more choice across a broad range of requirements, assisting those looking for stability and flexibility across all stages of the lending lifetime, from outset through to later life.”

John Davison, head of product, proposition and distribution at Perenna, added: “We are excited to partner with SimplyBiz and bring change to the mortgage market to help aspiring and existing homeowners, from first time buyers to those in or approaching retirement.

“Our new partnership with SimplyBiz helps us get a step closer to achieving this goal, working with and supporting their members in creating a nation of happy homeowners.”