Perenna

Perenna is a UK bank that offers mortgages for the home you live in and notice savings accounts. Its mortgages are arranged through mortgage brokers rather than sold directly¹. Its savings products are notice accounts, and these are currently only available through Raisin, not directly from Perenna².

Your savings with Perenna are protected up to £120,000 by the Financial Services Compensation Scheme². Perenna is a fully authorised bank, regulated by the Prudential Regulation Authority and the Financial Conduct Authority, and it appears on the Bank of England's list of UK banks authorised to accept deposits³.

Perenna does not offer current accounts, credit cards, personal loans or insurance. If you are looking for those, you would need a different provider. For a full guide to the mortgage market, see Mortgages: a complete guide. For savings, see Savings accounts: a complete guide.

What Perenna offers

Perenna offers two main product types: mortgages and savings accounts.

On the mortgage side, it lends for homes you will live in. It does not offer buy-to-let mortgages, though its own page says that may change¹. Perenna mortgages are available through mortgage brokers, or you can use Unbiased to find a broker¹. The bank carries out affordability checks on the applicant and anyone else buying the home with them¹.

On the savings side, Perenna offers notice accounts for short or longer term saving. These are currently only available through Raisin². A notice account is a savings account where you must give the bank a set number of days' notice before you can withdraw your money. In return, you typically get a higher interest rate than an easy-access account.

Perenna notice accounts, available only through Raisin

Perenna's notice accounts are not available directly from Perenna. They are currently only available through Raisin². This means you open the account through the Raisin platform, not through Perenna's own website.

When you open a notice account through Raisin UK, you must close the account to trigger the notice period. The funds plus interest are paid to the Transaction Account on expiry of the notice period⁵. Once you have given notice, it is not possible to revoke it⁵.

The shortest notice period currently available at Raisin UK is 14 days, while the longest is 120 days⁵. Perenna's own notice accounts sit somewhere within that range. The notice period you choose affects how quickly you can access your money.

This is different from some notice accounts offered directly by banks, where you can give notice on part of your balance and leave the rest invested. With a Raisin notice account, the whole account closes when the notice period ends.

For more on how notice accounts compare with other savings types, see Savings accounts: a complete guide.

Overpaying a Perenna mortgage

If you have a Perenna mortgage and want to pay it off faster, overpaying is one option. Most lenders allow you to overpay by up to 10% of the outstanding mortgage per year before incurring penalties, and the terms of your agreement set out what applies to you⁶. Overpaying more in a 12-month period may trigger an early repayment charge⁷.

An early repayment charge is a fee a lender charges when you pay off more than your deal allows, or clear the mortgage before the deal ends. It is usually worked out as a percentage of the amount you repay early, or of the balance outstanding, and the percentage is set out in your mortgage offer. The size of the charge and the allowance you get before it applies vary from lender to lender and from deal to deal, so the figure that matters is the one in your own paperwork. Perenna's own overpayment allowance and early repayment charge are set out in your mortgage offer; check that document or contact Perenna directly for the terms that apply to your loan.

If you have an interest-only mortgage, you need to switch to a repayment mortgage to overpay⁸. This is because with an interest-only mortgage, your monthly payments only cover the interest, not the capital. Overpaying on an interest-only mortgage would not reduce your balance in the same way.

Help if you struggle with mortgage payments

If you are finding it difficult to pay your mortgage, contact your lender immediately⁹. Lenders have a duty to help if you are struggling, which could include reducing your monthly payments or taking a break from your payments for a few months¹⁰.

If you are behind with your mortgage payments, the lender may arrange a forbearance agreement with you. This agreement allows you to repay any missed payments⁹. If you are having or facing difficulty making mortgage payments, the Help to Stay scheme might be able to provide financial support¹¹. In Wales, Help to Stay is available if you are having difficulty or facing difficulty in paying your mortgage, including already missing payments or building up arrears, or at risk of missing payments soon because of a change in circumstances such as an increase in your mortgage rate or loss of income¹².

If you are over 60 and receive Pension Credit, you will get help with your mortgage immediately if you qualify¹³. If you are having problems with your mortgage, you could get help from your lender if they have signed up to the Mortgage Charter¹⁴.

Legal aid can help with things like stopping or delaying eviction from a tenancy, repossession because of mortgage arrears, illegal eviction and landlord harassment, challenging a council decision on a homeless application, and sometimes serious repair problems for renters¹⁶.

For free, impartial help, you can contact MoneyHelper, StepChange or Citizens Advice. Getting debt advice will not affect your credit file or impact your credit score¹⁷.

How to apply and who can get a Perenna mortgage or savings account

For a Perenna mortgage, anyone aged 18 or over who lives in the UK and has the right to live in the UK permanently can apply¹. Perenna will carry out affordability checks on you and anyone else buying the home with you¹. Applications go through mortgage brokers, not directly to Perenna¹.

For a Perenna savings account, you cannot apply directly. You must go through Raisin². The eligibility criteria for the notice accounts are set by Raisin and Perenna together. You will need to be a UK resident and meet Raisin's own identification requirements.

Perenna does not publish a minimum deposit or minimum mortgage amount on the pages reviewed here. For current figures, check Perenna's website or speak to a broker.

Managing your account and contacting Perenna

Perenna's website is perenna.com⁴. For account-specific queries, use the contact details on its site.

If you have a savings account through Raisin, you manage it through the Raisin platform, not through Perenna directly. For mortgage customers, Perenna will provide contact details in your mortgage offer and welcome pack.

If you think you have responded to a fraudulent email, someone may have seen your security details, or you believe someone else has accessed your accounts, call your bank straight away¹⁸. This applies to any bank, including Perenna.

Complaints and the Financial Ombudsman Service

If you have a complaint about Perenna, the first step is Perenna's own complaints procedure. If you are unhappy with the outcome, you can take your complaint to the Financial Ombudsman Service.

The Financial Ombudsman Service helps resolve complaints about issues such as account closures, disputed transactions, IT failures, and problems with switching services¹⁹. The ombudsman service is free to consumers. In April to June 2025, the ombudsman reported 7,800 complaints about current accounts²⁰.

If your complaint is about a mortgage, the ombudsman can look at financial difficulties with mortgages¹⁵ and interest rates applied to mortgages²¹. If your complaint is about a savings account, the ombudsman can look at banking and payments issues¹⁹.

For more on your rights when dealing with financial firms, see Consumer protection in UK financial services: a complete guide.

How your savings are protected by the FSCS

Your savings with Perenna are protected up to £120,000 by the Financial Services Compensation Scheme².

The FSCS protects your money if your bank or building society fails. It covers deposits in UK banks, building societies and credit unions.

If you have savings with Perenna through Raisin, the FSCS protection still applies. If you have other savings with Perenna, they count towards the same limit.

If you have savings with other banks in the same banking group, they may count towards a shared limit. Check the FSCS website for details.²

For more on how savings protection works, see Savings accounts: a complete guide.