Sunday, August 02, 2026

Light/Dark

Breaking News

Oxford Risk: Placing the Human at the Center of Wealth and Asset Management Transformation CLS Appoints Six New Board Directors Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World SumUp Launches in Canada European Fintech Association Elects New Board of Directors G+D: Navigating the Future of Fintech Agility and Innovation Connect IFA Strengthens Leadership Team to Drive Growth and Enhance Adviser Support FreeAgent Launches New AI Tool for Landlords to Capture Rental Statements EXCLUSIVE: “Keeping The Rubber on Track” – Nick Kerigan, Swift in ‘The Fintech Magazine’ Megadeals Are Back. Here’s Why J-P Conte Thinks Patient Capital Still Wins. A New Way to Get Paid: Modulr Adds cVRP to Its Collections Hub DIFC Future of Finance Report: Digital Native, AI Driven Challenger Banks Redefining Banking Models, Signalling Industry’s Biggest Shift Since 2008 UK Financial Institutions Look to Decade of AI-Driven Growth as Confidence Strengthens LUMIQ Raises Strategic Funding to Become the AI Decision Layer for Financial Services easypaisa and Binance Sign MoU to Explore Emerging Financial Technology Growth in Pakistan

Home » People » Colin Bell

Connect

About Colin Bell

https://www.perenna.co.uk/

News

News

WHY THIS MATTERS:This landmark regulatory milestone is a significant indicator of the ongoing evolution in specialist lending and UK long-term mortgage finance. For a non-deposit-taking institution to secure authorization for retail deposits—a historically low-cost, stable source of capital—it fundamentally alters their competitive posture against established high-street banks. The ability to vertically integrate funding allows a focused challenger like Perenna to dramatically lower its cost of funds, directly supporting the scaling of its extended fixed-rate products. In a market where fluctuating interest rates create acute affordability challenges, this move stabilizes the supply side of specialist housing finance. It signals a critical trend where innovative lenders are moving beyond wholesale markets to build resilient, full-stack financial architectures, ultimately pushing the entire sector toward greater product stability and consumer certainty Perenna, the UK’s first long-term fixed-rate mortgage provider, today announces that it has received authorisation from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to accept retail deposits. The approval comes as the lender expands its mortgage proposition to include a range of 5 to 15-year fixed-rate products and seeks to further diversify its funding strategy. The new regulatory permission represents an important milestone for Perenna, enabling it to access additional sources of funding alongside its existing £200m warehouse facility with ABN AMRO, which currently supports its long-term fixed rate lending. Launch of savings proposition with Raisin Perenna has partnered with Raisin, the world’s leading savings and investment platform, to launch its retail savings proposition. The partnership enables Perenna to offer fixed-term savings accounts with maturities from six months to five years, alongside 95-day notice accounts, to Raisin’s extensive customer base. The move complements Perenna’s existing funding arrangements and supports the continued growth of its 5 to 15-year mortgage products, which were launched at the end of 2025 in response to rising consumer and broker demand and has already seen strong early uptake. The strengthened funding model positions Perenna to scale its expanded product offering and play a leading role in reshaping long-term mortgage finance in the UK. Colin Bell, Chief Operating Officer at Perenna, said: “Gaining authorisation for retail deposits is a significant moment for Perenna in our growth and value story, and will enable our continued innovation in the mortgage market. As our products become more diversified in response to market demand, so too must our funding sources. “Launching a savings proposition is the natural next step for Perenna, and securing regulatory approval to do so is a testament to the quality of the controls, processes and people we have in place within the business. “We’re committed to providing innovative products to the market and creating a nation of happy homeowners. Working with Raisin, we can fund access to a broader range mortgage solutions for homeowners, giving borrowers greater financial certainty and helping them navigate the UK’s affordability challenge, through funding from savers.” FF NEWS TAKE: This announcement decisively moves the needle by proving that a modern, scaled funding model can successfully challenge the traditional banking oligopoly for capital. The immediate focus should shift to the execution of the Raisin partnership: specifically, how quickly and cost-effectively Perenna can attract a substantial volume of new retail money. If they execute this savings launch effectively, expect other challenger lenders to follow suit, further blurring the lines between specialty providers and chartered banks in the quest for capital advantage.

PRA & FCA Authorise Perenna to Accept Retail Deposits as Lender Boosts Funding Strategy

February 5 2026

Perenna,announces that it has received authorisation from the PRA and the FCA to accept retail deposits

News

Perenna’s long-term fixed rate mortgages launch to the wider broker market

Perenna’s long-term fixed rate mortgages launch to the wider broker market

January 15 2024

Perenna has opened its mortgages to a wider range of FCA authorised intermediaries across the […]

News

Perenna set to disrupt mortgage market with bank licence approval

September 7 2023

Perenna, a new bank which will structurally change the UK mortgage market through its unique […]

Related Companies