"Given the challenging rising-rate market we’ve been operating in over the last 18 months, long-term fixed propositions like this are becoming increasingly popular."
- Nicole Smith, lender national account manager at Twenty7tec
Twenty7tec has added Perenna to its SOURCE module, giving advisers access to Perenna's range of long-term fixed rate mortgage products.
Perenna, which launched its range to market late last year, lends up to 95% LTV and offers fixed rate terms from 20-40 years, helping borrowers lower their monthly payment amount. Perenna also lends up to six times a borrowers’ income, subject to criteria. Perenna does not have to stress at 1-3% over SVR as it is fixed for the term, allowing people to typically borrow more.
Nicole Smith, lender national account manager at Twenty7tec, commented: “We welcomed the opportunity to work with Perenna and to assist with their presence in the intermediary space. It’s no secret that people are happiest when they aren’t worrying about money. Given the challenging rising-rate market we’ve been operating in over the last 18 months, long-term fixed propositions like this are becoming increasingly popular.
"Residential purchase and remortgage products will be available to SOURCE via our Twenty7tec Velocity platform. In addition, Perenna’s lending criteria will be available to search alongside their products, providing certainty to users earlier in the research process.”
John Davison, head of product, proposition and distribution at Perenna, added: “Perenna is all about offering customers and brokers security and flexibility in a confusing market. By partnering with Twenty7tec, we are ensuring that mortgage brokers have the opportunity to compare the value of our products against the short-term fixes commonly available. As our product suite grows, I look forward to showcasing innovative ideas and products on the Twenty7tec platform and working together to help automate and digitise the broker and customer experience.”
