It enters market with long-term fixed rate products at up to 95% LTV
April Mortgages has expanded its mortgage offerings to all HLPartnership advisers and entered the house purchase market, providing advisers access to its complete product suite.
The lender said the move aims to provide customers with stability through a variety of house purchase and remortgage products, available up to 95% loan-to-value (LTV) and 85% LTV respectively, with fixed terms ranging from five to 15 years.
Borrowers face no early repayment charges if they move house or use their own funds to repay the mortgage. In addition, the fixed rate decreases as customers pay down their balance and move into a lower LTV bracket.
Advisers also benefit from April Mortgages’ offerings as they earn an annual service fee starting from the fifth anniversary of the product start date, alongside a procuration fee for introducing cases. Further fees are available for product transfers and additional lending.
“HLPartnership has supported us from the very outset, and we are delighted to make our range available to all members of the network as we grow our distribution this year,” said Mark Eaton (pictured), chief operating officer at April Mortgages.
“With April, customers can rest assured that their mortgage payments won’t rise for up to 15 years. In fact, as they pay off the balance or their property price increases, their mortgage rate can actually fall.
“For advisers, we are committed to building long-term relationships and promoting the benefits of ongoing financial advice – and we put our money where our mouth is, with an Annual Service Fee payable throughout the term of a product from the fifth anniversary of its start date.”
Neil Hoare, commercial director at HLPartnership, said they were delighted to announce the expansion of the pilot phase with April Mortgages to all their member firms.
“April believes that mortgages should be simple, and that’s why they’ve designed products to give brokers and their clients certainty and flexibility,” Hoare said. “These mortgages are an important addition to our advisers’ product portfolio, recognising that customers should have access to new and innovative products which support the ongoing need for advice in achieving good outcomes.”
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