Alongside broadening its range to all HLPartnership advisers, April Mortgages has also recently launched into the house purchase market.
The lender offers house purchase and remortgage products up to 95% loan to value (LTV) and 85% LTV respectively. These are available on fixed terms from five to 15 years.
There are no early repayment charges (ERCs) for borrowers who move house or use their own money to repay the mortgage, and the fixed rates automatically decrease as borrowers pay off the balance and move into a lower LTV bracket.
April Mortgages also offers a proc fee to brokers for introducing a case, and an annual service fee that is paid five years after the product’s start date. The lender also pays brokers additional fees for product transfer business and further lending.
Mark Eaton (pictured), chief operating officer at April Mortgages, said: “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.
“April Mortgages is a lender that offers peace of mind to both customers and advisers. 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, added: “HLPartnership is delighted to announce the expansion of the pilot phase with April Mortgages to all our 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. These mortgages are an important addition to our advisers’ product portfolio, recognising that customers should have access to new and innovative products [that] support the ongoing need for advice in achieving good outcomes.”
