Perenna has struck an unique partnership with L&C Mortgages because it begins lending this month.
The new agency, which affords 20-to-30-year fixed-rate home loans, has introduced a tie-up with L&C to initially launch merchandise to prospects on its ready listing of over 5,000 potential debtors.
L&C may also make Perenna’s mortgage merchandise available to different L&C prospects for remortgage.
The lender agency says it then plans to launch into the broader UK mortgage market with a panel of distribution companions across the nation.
It provides its long-term mortgages solely carry early compensation prices for the primary 5 years.
“This gives customers certainty that their payments will never increase, as well as allowing them to take advantage of lower rates that may be available in the future, and change when the time is right for them,” the business says.
Perenna head of product, proposition, & distribution John Davison factors out: “We are launching a brand new form of mortgage, providing true long-term safety, and adaptability, for owners.
“L&C has substantial expertise of working with new lenders and we’re excited to be working with them completely throughout this part.
“Customers will still get the same great service from L&C as well as dedicated support from the team at Perenna.”
L&C chief govt Alan Young provides: “Borrowers are aware of how unstable the mortgage market will be following the recent hikes in rates of interest.
Perenna’s provide of long-term safety, with solely a five-year tie in interval, brings a model new method to the fastened price choices available in the market and can solely strengthen the vary of options for our prospects.”
Last week, Perenna secured £42.6m ($52m) of money from buyers as equipped for launch.
Last month, the brand new lender was awarded its UK banking licence from the Prudential Regulation Authority and Financial Conduct Authority.
