Brokers from HL Partnership and Stonebridge working through the mortgage club can source April Mortgages' long-term fixed rate remortgage products
Legal & General Mortgage Club has partnered with April Mortgages, adding the new mortgage lender to its panel.
The partnership will initially provide brokers from HL Partnership and Stonebridge who work through Legal & General Mortgage Club exclusive access to April Mortgages’ long-term fixed rate remortgage products, with plans to broaden this access to the entire Legal & General Mortgage Club network in the future.
April Mortgages is introducing a new approach to long-term fixed rate mortgages, featuring declining interest rates as payments are made. This strategy aims to streamline the mortgage process and mitigate concerns around the volatile interest rate environment. The offered remortgage products span from five- to 15-year terms, with starting rates at 4.99%.
A key feature of April Mortgages’ offerings is the absence of early repayment charges (ERCs) for scenarios such as moving house or making additional payments, either in part or full. ERCs will only apply if a borrower opts to refinance within the initial term of the product.
“At Legal & General Mortgage Club, our goal is to provide intermediaries with a wide range of options to assist their clients’ evolving needs,” said Clare Beardmore (pictured left), director of distribution and mortgage club at Legal & General Mortgage Services. “We are therefore delighted to be partnering with April Mortgages.
“We’ve seen a growing appetite for long-term fixed rate products, due to the certainty they provide customers over monthly repayments – especially in a market in which we are seeing fluctuating interest and swap rates. This partnership allows us to expand the range of solutions to our members, especially when their customers might be looking to prioritise budgeting and the ability to fix repayments over the long-term.”
Tim Hague (pictured right), commercial director at April Mortgages, viewed the inclusion in Legal & General Mortgage Club’s lender panel as a milestone for the company.
“This is an exciting opportunity for us to offer our innovative mortgage products to the wider UK market, starting with HL Partnership and Stonebridge,” Hague said. “April Mortgages is 100% broker introduced, and our partnership with Legal & General presents an ideal route to building long-term bonds with brokers and their customers.
“By joining with Legal & General, we are poised to address the concerns and uncertainties that consumers face in today’s market. Our tailored approach is designed to offer stability and peace of mind, ensuring that homeownership remains within reach for all individuals.”
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