Coreco advisers can source the lender's range of five- to 15-year fixed rate mortgages
Longer-term lender April Mortgages has announced a new partnership with mortgage advice firm Coreco.
Through this partnership, Coreco advisers will gain access to April Mortgages’ range of five- to 15-year fixed rate mortgages, which offer long-term certainty previously unavailable in the UK market.
“Lenders have historically made it too difficult for borrowers to secure their rate for an extended period without accepting unrealistic tie-ins and penalties, so I’m delighted to see April Mortgages bringing a fresh approach,” said Andrew Montlake (pictured right), managing director of Coreco.
“I have no doubt that our advisers and clients will welcome the option of a flexi-fix style five- to 15-year fixed product that has removed the traditional obstacles faced by both borrower and brokers.”
April Mortgages’ fixed rate decreases automatically over time as borrowers reach a lower loan-to-value (LTV) bracket, either by paying off their balance or through property value increases. Borrowers moving house or using their own funds to repay the mortgage are exempt from early repayment charges.
The lender said advisers also benefit from the partnership as its products eliminate the stress of renegotiating with lenders every two years. In addition, advisers receive a commission structure that guarantees future commission payments over the full term of the mortgage.
“Partnerships with leading firms like Coreco are a crucial step in our aim to deliver practical new solutions that offer borrowers and brokers more peace of mind than currently exist,” said Mark Eaton (pictured left), chief operating officer at April Mortgages.
“We are serious about working with brokers, listening to their requirements and helping them change the UK mortgage market for the better. We believe Coreco is a perfect partner for us in this regard.”
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