Perenna, which is building an innovative digital mortgage bank that will aim to enhance the UK mortgage market, recently revealed that it has received UK Government grant funding in order to “accelerate decarbonization of UK housing stock.”
Perenna says that for decades, consumers in the UK have “seen very little mortgage product innovation and lending processes remain largely inefficient, inflexible and slow.”
Perenna explains that their launch product will aim to “be a flexible 30 year fixed rate mortgage providing full payment certainty and protecting borrowers against interest rate rises.”
The Fintech says that their new technology platform is reportedly among “the most advanced in the mortgage market. Mortgages are approved rapidly, and you can track every part of the journey on your mobile.”
Arjan Verbeek, founder and CEO, Perenna said:
“Perenna wants to change the narrative on renewable energy technologies. There are too many obstacles currently to retrofitting a property, with confusing offers and unclear steps on what to do. This needs to change if we want to solve one of the biggest challenges for achieving net zero. We are delighted to be part of the Green Home Finance Accelerator and have the opportunity to work with Heatio and Energy Systems Catapult to pilot an innovative mortgage product that combines long term security with improvements in home energy efficiency.”
As covered, Perenna announced earlier that they’ve raised over £42m in their latest fundraise, which was reportedly “led by Silverstripe Investment Management, alongside participation from existing investors.”
This successful fundraise is a major milestone for Perenna’s rapidly growing company, and “testament” to the great team they have. The Fintech firm will be using the funds to exclusively launch the Perenna mortgage “to selected borrowers initially, opening up to the wider public later this year. ”
Their product can be as attractive “to first time buyers as it is to those wanting to borrow into retirement.”
Combining security and flexibility, a Perenna mortgage “allows borrowers to fix their rate for up to 30 years, providing peace of mind that mortgage payments won’t change during that time. ”
