Mortgage Brain, the leading technology provider to the mortgage industry, welcomes Perenna to its award-winning Sourcing Brain and Criteria Brain platforms, bringing long-term fixed rate mortgages to even greater numbers of intermediaries.
Perenna is a new kind of mortgage bank that specialises in flexible long-term fixed rate residential mortgages. The challenger bank lends up to 95% LTV and offers fixed rate terms from 20-40 years, giving borrowers certainty over their monthly payments for the whole mortgage term. This allows borrowers to better plan for the future, and it allows Perenna to help more people onto the property ladder.
Perenna is also designing interest-only variants of its long-term fixed rate mortgage. When they launch, details will be available on Sourcing Brain and Criteria Brain for interested intermediaries. Mortgage Brain’s award-winning platforms are widely recognised and utilised by over 15,000 intermediaries throughout the UK.
John Davison, Head of Product, Proposition & Distribution, Perenna
“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, Mortgage Brain
“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.”
