FAQ

When will you launch?

We're currently in the process of applying for a UK banking licence and hope to commence lending operations in summer 2021.

How can you offer 95% LTV loans?

We expect to offer 95% LTV loans because of our unique funding model and because fixed for life mortgages will not revert to SVR (standard variable rate).

What does fixed for life mean?

For Perenna that means the interest rate on each mortgage is fixed for the whole term of the mortgage, which is what we expect to offer when we commence our lending operations.

Is Perenna a bank?

No, Perenna is not a bank. We're currently in the process of applying for a UK banking licence and hope to commence lending operations in summer 2021.

Will Perenna be regulated as a bank?

We're currently in the process of applying for a UK banking licence and when we obtain the UK banking licence we will be regulated by the FCA and the PRA.

Who can apply for a Perenna mortgage?

Anyone above the age of 18 will be able to apply for a Perenna mortgage if they have an income, but will need to meet other criteria as well.

What is your eligibility criteria?

We haven't started lending operations and are currently not accepting mortgage applications. However, if you sign up to our newsletter, you'll be first to know when we launch.

What rates will you be offering?

All our mortgages will be financed through covered bonds and traded on the London Stock Exchange. Our initial offering is expected to be a 30 year fixed rate mortgage.

How are Perenna mortgages funded?

All Perenna mortgages will be financed through the issuance of long term covered bonds.

How can I get a mortgage?

We haven't started lending yet and are not currently accepting mortgage applications. However, you can sign up to the platform now and get an indication of the amount you might be eligible to borrow when we go live.

What can I get a mortgage on with Perenna?

We expect to offer mortgages initially on homes that you will live in, but this may be extended to other properties in the future.

Are your mortgages flexible?

Yes that is what we are planning. We expect them to be portable (so you can take it with you to you next home) and  transferrable (so you can sell it with your house). Early repayment charges will apply to our mortgages but they are likely to be for a maximum of 5 years, similar to a current 5 year fixed mortgage.