Redefining Mortgages with an Innovative New Lender
How MOHARA partnered with Perenna to build a secure, consumer-friendly mortgage portal that helps applicants get a decision in principle faster, easier, and with full regulatory confidence.
Client Background
Perenna is a UK-based fintech reimagining home ownership with 30-year fixed-rate mortgages, a product designed to give customers long-term stability in an uncertain market. As a challenger bank entering a highly regulated sector, they needed to create a seamless, secure, and trustworthy digital journey for prospective borrowers.
With plans to launch a direct-to-consumer mortgage application process, Perenna turned to MOHARA to design and deliver a web application that could simplify complex calculations, integrate with third-party credit systems, and still feel effortless for end users.
The Challenge
Applying for a mortgage is often one of the most stressful consumer experiences. Affordability checks, product comparisons, and credit assessments can overwhelm applicants and delay approvals. For lenders, the challenge is equally significant: regulatory requirements mean that affordability and disclosure must be handled with precision, while inefficiencies in process can slow down the path from application to approval.
Perenna's ambition was to streamline this journey by enabling applicants to secure a Decision in Principle (DIP) online. Achieving this required integrating multiple systems, managing strict compliance requirements, and creating a user experience intuitive enough to inspire trust from day one.
Objectives
From the outset, the project had clear goals:
- Build a consumer-friendly portal that enables mortgage applicants to get a genuine Decision in Principle.
- Integrate seamlessly with WPS affordability calculations and Experian credit checks.
- Provide clear, regulated product information (including APRC calculations).
- Ensure security, compliance, and scalability to support Perenna's market entry and long-term growth.
The Solution
Perenna partnered with MOHARA to translate this complex vision into a functioning digital platform. Working in an Agile model, MOHARA designed and engineered a product that could grow iteratively while meeting the regulatory bar from day one.
What we delivered:
Affordability Calculator
Adapted from Perenna's existing intermediary tool and embedded directly into the consumer application flow.
Product Selection
Including APRC calculations to ensure full transparency for applicants.
Save and Return Portal
Secure account creation allowing users to pause and continue applications.
Decision in Principle
Full DIP capability, combining WPS affordability models with Experian soft-search credit checks.
Broker Integration
A call-to-action that connects applicants with brokers for a full mortgage application.
The platform was designed for both compliance and user confidence, balancing regulatory rigor with a streamlined, consumer-friendly journey.
Results
By April 2024, MOHARA delivered Perenna's new mortgage portal, ready for launch. Early impact included:
- A fully functioning Decision in Principle journey that could be completed online.
- Clear, transparent presentation of mortgage products and APRC information.
- Secure integration with Experian and WPS systems, ensuring accuracy and compliance.
- A scalable platform architecture capable of supporting future expansion.
For Perenna, this was a critical milestone: transforming a challenger bank's vision into a working consumer product that sets the foundation for growth in a highly competitive, regulated market.
Why MOHARA
Perenna needed more than an agency, they needed a partner able to navigate regulation, scalability, and user experience simultaneously. MOHARA worked closely with their leadership and technical teams to deliver against tight deadlines while ensuring the platform met both consumer expectations and regulatory standards.
By combining startup agility with enterprise-grade rigor, MOHARA helped Perenna move from idea to a market-ready product that redefines how consumers engage with mortgages.