UK based mortgage start-up lender, Perenna, aims to revolutionise the UK's mortgage market by introducing a 30 year fixed rate loan that will be financed with the same pass through covered bonds that are widely used in the Denmark.
Perenna is setting up a covered bond bank in the UK to finance its fixed rate loans. It expects to issue 30 year fixed rate covered bonds secured on 30 year fixed rate mortgages just as the Danes do. This match funding principle is considered a low risk
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