Perenna has launched a flexible long-term fixed rate retirement interest only (RIO) mortgage, expanding its product range.
The RIO products will be available to borrowers over the age of 50, and up to a maximum of 60% loan-to-value (LTV), with rates starting at 5.84%.
Perenna has also added an interest only option to its product range, up to a maximum of 75% LTV, on offer to both purchase and remortgage customers.
Colin Bell, co-founder and COO, said: “Our RIO is a game changer for brokers and borrowers alike. Those aged over 50 have narrow options when it comes to mortgage products.
“With our market leading long-term fixed rate RIO, we provide a great choice for those in or approaching retirement, with ERC for only five years putting you in control.”