Mortgage Brain adds Perenna’s long-term fixed rate mortgages on its platforms – The Intermediary

Mortgage Brain has announced the addition of Perenna, a specialist in long-term fixed rate residential mortgages, to its Sourcing Brain and Criteria Brain platforms.

This move brings Perenna’s unique mortgage solutions to a wider network of intermediaries across the UK.

Perenna stands out as a challenger bank in the mortgage sector, offering flexible long-term fixed rate mortgages with terms ranging from 20 to 40 years and lending up to 95% loan-to-value (LTV).

This approach provides borrowers with consistent monthly payments throughout their mortgage term, facilitating better financial planning and assisting more individuals in securing their first homes.

John Davison, head of product, proposition & distribution at Perenna, said: “This is such an exciting time for us at Perenna. With fluctuating mortgage rates and increasing uncertainty, the UK mortgage market has been crying out for a long-term fixed rate product like ours for some time.

“Our mortgages have short early repayment charges and can suit anyone looking for financial certainty but are particularly attractive to those underserved segments of first-time buyers looking to borrow a little more and later-life borrowers wanting to release equity from their home.

“Now our products are accessible on Sourcing Brain and Criteria Brain, we’ll be able to reach an even wider range of intermediaries giving borrowers more options.”

Neil Wyatt, sales & marketing director of Mortgage Brain, added: “As a technology leader, we’re big fans of innovation and creative solutions, so when Perenna joined our platforms with their new, innovative lending product, we were thrilled to have them on board.

“We wish them luck in bringing their long-term fixed rate mortgage to the borrowers of the UK and are happy that our tools will help intermediaries to do this.”