Start-up mortgage lender Perenna has announced that it intends to lend at up to 95 per cent LTV.

As well as offering products for first-time buyers it says it will be servicing “later-life borrowers who have few options to remortgage as they enter retirement.”

The lender boasts that its technology platform is the most advanced on the mortgage market and that all its services will be useable through a mobile app.

One of its three co-founders and its chief operating office is Colin Bell, who most recently worked at Hampshire Trust Bank as a managing director, InterBay as its chief executive and OneSavings Bank as product and new business director.

Its two other co-founders and chief executive and chief capital officer, respectively, are Arjan Verbeek and Hamish Peacocke, both of whom have long experience in financial services.

Perenna reports that it is currently in the process of applying for regulation from the PRA and FCA.