Home Commercial Property New app-based mortgage lender to lend up to 95% LTV

New app-based mortgage lender to lend up to 95% LTV

by LLP Finance Reporter
27th Aug 20 3:17 pm

A new mortgage lender is preparing to launch its mobile app, pledging to support later-life borrowers and first-time buyers with mortgages up to 95% loan-to-value (LTV).

Perenna is developing a brand new mortgage bank with all services available through its app.

Perenna said in a statement, “With the recession comes the disappearance of low deposit loans and Help to Buy schemes become harder to access – meaning options are very limited when you want to purchase your first property.

“With Perenna, first-time buyers can borrow up to 95% of property value with only a 5% deposit required when buying a home. On top of this, Perenna offers 30-years of a fixed interest rate, giving buyers long-term peace of mind in a market that can be unfriendly to customers and difficult to navigate.

“With the consumer-friendly app, those who take out a fixed for life mortgage can monitor everything from mortgage applications, payments, rewards and even the fluctuating interest rate of the market so they know when the best time to buy is.

“Perenna simplifies the process for first-time buyers looking to get on the property ladder as well as later-life borrowers who have few options to remortgage as they enter retirement.”

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