Perenna has reduced rates across its purchase, remortgage and retirement interest-only (RIO) products by up to 47 basis points.

The lender’s RIO mortgages have been reduced by 47bps, now starting from 5.43% at 60% loan-to-value (LTV) with a £1,999 fee.

The remortgage RIO product has also seen a reduction of 27bps, now starting at 5.56% at 60% with a £1,999 fee.

Elsewhere, the lender has dropped rates on its purchase product by 21bps, which now starts at 5.43% at 60% LTV with a £1,999 fee.

The residential remortgage product has also been reduced, dropping by 16bps to 5.55% at 60% with a £1,999 fee.

Perenna co-founder and chief operating officer Colin Bell says: “We are further increasing our lending boost at Perenna with price reductions across our range.”

“Our innovative products continue to solve many borrower use cases and with these latest reductions, we will help even more borrowers, whether those purchasing the home they really want, or those who need to remortgage during retirement.”