Mortgage Advice on Perenna Bank – A Breath of Fresh Air for Bad Credit Borrowers

In today’s unpredictable financial climate, finding the right mortgage can be quite a task, especially if you’re dealing with bad credit. Luckily, the introduction of Perenna Bank as a new lender offers a glimmer of hope. In this blog post, we’ll explore how Perenna’s unique offerings can be a game-changer for those seeking tailored mortgage options and the essential role mortgage advice plays in maximizing these benefits.

### Why Perenna Bank?

As one of the newer players in the mortgage market, Perenna Bank brings a refreshing approach with its long-term fixed-rate mortgages. Spanning from 15 to 40 years, these mortgages are designed to offer long-term stability and flexibility—two essential elements for anyone with bad credit. The best part? Early repayment charges only apply for the first five years. After that, you’re free to move on as your financial situation improves.

### Why Consider Long-Term Fixed-Rate Mortgages?

One of the standout features of Perenna’s offering is the long-term fixed rate. This feature offers you predictable monthly payments, aiding in your financial planning. No more nasty surprises from fluctuating interest rates! Given the volatile market conditions, this could make all the difference in ensuring you can keep up with your mortgage payments.

### The Role of Mortgage Advice for Bad Credit Borrowers

Here’s where specialized mortgage advice comes into play. If you’re Googling “mortgage advice near me,” it’s likely because you’re trying to navigate the complexities of securing a mortgage with bad credit. Expert advice can guide you towards lenders with criteria suited to your needs and even help you understand whether options like interest-only mortgages could be viable.

### Tips for Applying for a Mortgage with Bad Credit

1. **Know Your Credit Score:** Before you apply for any mortgage, understanding your credit score is crucial. It gives you an idea of what you might be up against.

2. **Seek Professional Advice:** Since bad credit can complicate your application, getting professional mortgage advice can provide you with tailored recommendations. An expert can help you understand the various options available, including specialized products from lenders like Perenna Bank.

3. **Be Prepared to Provide More Information:** Lenders like Perenna may be flexible, but they will still require a comprehensive understanding of your financial situation. Be ready to provide detailed documentation of your income, debts, and any other relevant financial information.

### The Promise of Flexible Lending

One of the aspects that make Perenna Bank stand out is their lack of a maximum age limit on their mortgage products. This is a fantastic opportunity for older homebuyers looking for options like interest only in retirement. It’s also worth noting that such flexibility in lending criteria isn’t always common, making Perenna a valuable addition to the lending market.

### Conclusion – Can I Get an Interest Only Mortgage?

With the plethora of new options provided by Perenna Bank, it’s natural to wonder, “Can I get an interest only mortgage?” The answer is, it depends on your personal circumstances, but the flexibility offered by Perenna means it’s certainly worth exploring. By consulting a mortgage advisor, you can get an in-depth look into whether products like interest-only mortgages are aligned with your financial goals.

While applying for a mortgage with bad credit can seem daunting, new lenders like Perenna Bank are making it easier to find a solution that fits your needs. The introduction of long-term fixed-rate mortgages with flexible repayment options gives hope to many bad credit borrowers. Make sure to seek expert mortgage advice to maximise the benefits and navigate the complexities of the mortgage market effectively. Whether you’re pondering an interest-only mortgage or looking for stability through a long-term fixed rate, there’s a world of options opening up, making home ownership a real possibility.

So, if you’re in the market for a bad credit mortgage, stay optimistic. With new lenders like Perenna Bank shaking things up, opportunities are on the horizon. Don’t let bad credit hold you back from your dreams of home ownership. Reach out for mortgage advice near you and take the steps towards securing a brighter, more stable future.

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FCA WARNING, FEE’S AND JURISDICTIONAL INFORMATION

MORTGAGES – THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

CONSOLIDATING UNSECURED DEBTS – Think carefully before securing any other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or secured loan. IF YOU  CONSOLIDATE EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

BUY TO LET MORTGAGES The Financial Conduct Authority does not regulate some forms of Buy to Lets. Your home/property may be repossessed if you do not keep up repayments on your mortgage.

EQUITY RELEASE – This is a Lifetime Mortgage. These are only applicable to those 55 and over, and it could affect eligibility to state means-tested benefits and the inheritance you may leave. To understand the features and risks, ask for a personalised illustration. Equity release includes Lifetime Mortgages and Home Reversion Schemes. We can advise and arrange Lifetime Mortgages and will refer to an approved specialist for Home Reversion schemes.

Quest Finance Ltd also Trading as Quest Finance –  is an Appointed Representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. There may be a fee for mortgage advice. The precise amount will depend on your circumstances but will be agreed with you before proceeding but estimate this to be £695 for standard mortgages and £995 for Equity Release / later life mortgages. Quest Finance Ltd is registered in England and Wales, with company registration number: 12267927. Registered Office: 21 Laneham Close, Doncaster DN4 7HX

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