Like hundreds of thousands of homebuyers in the UK every year, Steve didn’t think twice before applying for a short-term fixed-rate mortgage. It was only when his application was rejected on a technicality that the Somerset-based IT professional looked for other options. A mortgage broker suggested he try a new lender called Perenna. He was first impressed that the lender “applied a bit more common sense” to the technicality about the terms of the lease on his flat that had stymied his last application. But he also learnt that the...