Full rollout now enables more brokers to offer longer-term mortgages to their clients
Longer-term residential lender April Mortgages has expanded the availability of its mortgage products to all brokers at SPF Private Clients, following a successful trial period.
SPF Private Clients, a brokerage with 220 people employed across 10 locations both within the UK as well as Hong Kong and Singapore, had previously provided a select number of brokers with access to April’s five- to 15-year fixed rate mortgages. The full rollout now enables more brokers in the market to offer these products to their clients.
Brokers who are part of the Legal & General Mortgage Club can refer clients to SPF Private Clients through the L&G Referral Pro panel. This arrangement allows brokers to earn a competitive commission without the risk of cross or repeat sales, while also offering clients access to longer-term fixed rate products.
April Mortgages recently reduced rates on its five-, 10-, and 15-year fixed rate mortgages by up to 10 basis points, with rates starting at 4.90%. The lender also raised loan-to-income caps and broadened its capital raising criteria, making these mortgages more accessible to a wider range of borrowers.
“The initial trial with April Mortgages was a great success,” commented Gareth Lowman (pictured left), director and head of lending at SPF Private Clients. “It’s clear that there is a real need for truly long-term fixed rates for those who value the security and certainty they offer, particularly after the volatility we have seen in recent years. I have no doubt that these products will be welcomed by our entire broker team and their clients.”
Mark Eaton (pictured right), chief operating officer at April Mortgages, added they were delighted to have fully rolled out their products with all of SPF’s brokers.
“April Mortgages is committed to working closely with the nation’s top brokers to ensure that peace of mind is available to more borrowers through our longer-term fixed rate products,” Eaton said. “These partnerships are also crucial to our plans to refine our products and processes, taking broker feedback on board throughout.”
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