Perenna has partnered with Air as part of its commitment to tackling age discrimination in the mortgage market and providing access to fairer mortgage products for all.
Research by the bank found that 60% of over 55s report a lack of choice and mortgage products tailored to them, and 36% believe their mortgage is restrictive because of their age.
Through the partnership with Air, Perenna will expand its reach to brokers whose clients are in and approaching retirement age.
Advisers will have access to Perenna’s capital & interest repayment product, which allows clients to spread their mortgage over a much longer time period.
In addition, advisers will have access to Perenna’s interest only and RIO products, offering a new option for customers who need to borrow in later life.
Perenna has also been named the latest Air Advocate Ambassador.
This follows a series of additions to Perenna’s lending panel, which now includes Mortgage Advice Bureau, Stonebridge, Legal and General Mortgage Club and, most recently, Connells Group.
Perenna chief operating officer Colin Bell says: “Partnering with Air will enable advisers access to Perenna’s mortgage products specifically tailored to over 50s, bringing them a step closer to securing their future.”
Air chief executive officer Paul Glynn adds: “We’re pleased to welcome Perenna as our latest partner in tackling this challenge, aiming to better serve these customers with their product offering.”
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