Perenna has made major rate cuts of up to 50 basis points on some deals today and
The lender’s biggest reductions are to its retirement interest-only rates.
These now start from 5.79% at 60% LTV with a £1,999 fee.
It has reduced remortgage rates by up to 38bps so that these now start from 5.71% at 60% LTV with a £1,999 fee.
Purchase rates have been reduced by up to 27bps and now start from 5.15% at 60% LTV with a £1,999 fee.
The lender has also lowered its minimum term to 10 years for purchase and remortgage.
Co-founder and chief operating officer Colin Bell says: “Perenna continues to be one of the few lenders in the UK to offer long-term fixed-rate products and we are constantly looking to expand and strengthen our offering to provide greater choice and flexibility for our customers.
“With the latest reduction to our minimum term and rates, we aim to help as many borrowers as possible, whether they be first, second or later-life buyers.”
