The lender soft launched its range with Stonebridge earlier this year. It offers rates from 4.99 per cent, and fixed terms of five, seven, 10, 12 and 15 years.
The products are currently remortgage-only and there are no early repayment charges (ERCs). April lends up to 85 per cent loan to value (LTV) and has no limits on borrower overpayments. Borrowers can also automatically access lower rates as they pay down the mortgage to reflect the lower LTV tier.
Tim Hague, commercial director at April Mortgages, said: “After our initial pilot we are now actively rolling out our distribution with all of Stonebridge. We think the Stonebridge conference is the ideal time to extend our offering to the whole of the network as we grow our distribution in a controlled way.”
Jo Carrasco, business partnerships director of Stonebridge, added: “We are delighted to be deepening our relationship with April Mortgages. Their products bring a real set of alternative options to the market and we look forward to doing even more with them.”
April Mortgages spoke exclusively to Mortgage Solutions earlier this month, where Hague detailed its plans to eventually launch into the first-time buyer market and explained its trail fee model for brokers. This works by paying brokers a proc fee on completion then an additional service fee payment after five years to ensure brokers are available to their clients. Brokers will also be paid for product transfers and further advances.
Its offering is also available through the HLP network.
