The scheme, offering low interest rates, was designed to fill the gap left by the conclusion of the government’s Help to Buy mortgage guarantee scheme. Other lenders in the scheme include Nationwide, Accord Mortgages, Bluestone Mortgages, and Newcastle Building Society.
Buyers using the scheme will have access to Perenna’s long-term fixed rate mortgage products, specifically tailored for new build home purchases. The lender offers the possibility of borrowing up to six times an individual’s income, a move aimed at improving purchase affordability. Mortgage terms include minimal early repayment charges, capped at a maximum of five years.
Perenna’s offering within the Deposit Unlock scheme includes 90.01 to 95% loan-to-value (LTV) mortgages, with rates starting from 5.92%.
“We’re thrilled to announce our collaboration with Deposit Unlock, a partnership aimed at making homeownership more accessible to everyone,” said Colin Bell (pictured), founder and chief operating office of Perenna. “Whether your customer is a first-time buyer looking to step onto the housing ladder or a second-time buyer seeking new opportunities, Perenna is here to make a difference in their outcome.”
“Affordability remains a struggle for many buyers and especially first-time buyers, and through this partnership and our consumer-friendly affordability boost mortgage we will help aspiring homeowners realise their dream of homeownership and living in the home they really want.