MAB and Stonebridge announce Perenna partnership

November 18, 2023 by Heidi

Mortgage Advisors

Stonebridge and The Mortgage Advice Bureau (MAB) have announced that they are linking up with mortgage lender Perenna, as the latter prepares to debut its panel for mortgage advisors in 2024.

Perenna is a lender that specialises in long-term loans that come with an interest rate that is fixed for the entire duration. People who take out one of its mortgages have the option of borrowing as much as six times their overall income value and the lender does not cap the age of borrowers at all. However, it does apply charges for early repayment during the initial five-year period.

The company was awarded a full banking licence by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) during mid-autumn. It is planning to launch its panel early next year.

Perenna distribution, proposition and product chief John Davison stated to Mortgage Solutions that its loan means that borrowers are shielded from the rises in mortgage rates that so many are experiencing at the moment. Then he added:

“Stonebridge and Mortgage Advice Bureau are the perfect partners for us to launch with, offering nationwide coverage and a high quality service to customers.”

Jo Carrasco from Stonebridge said that the company was very happy to be joining forces with Perenna, due to the unique nature of the mortgage loan that it offers and its plans to shift the market.

Many of those with a CeMAP mortgage advisor qualification will have clients for whom the idea of a mortgage with a permanent fixed rate is appealing right now.