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April Mortgages hires Eaton as COO

Shekina Tuahene
Written By:
Posted:
June 25, 2024
Updated:
June 25, 2024

Long-term fix mortgage lender April Mortgages has appointed Mark Eaton as its chief operating officer.

Eaton has extensive experience in the financial services sector. He was previously head of mortgage distribution at The Co-operative Bank for a year and a half and worked at Nationwide for seven years, most recently as director covering its over 55s mortgage proposition. 

Eaton has been instrumental in April Mortgages’ launch of five to 15-year fixed rate mortgages to the UK market, the lender said. 

He will use his experience to drive the lender’s operations, build relationships with advisers across the UK and oversee its sales and marketing activity. 

 

An ‘exciting time for April Mortgages’ 

Eaton (pictured) said: “This is an incredibly exciting time for April Mortgages, and I’m thrilled to play a bigger part. My 25 years in wealth and mortgages will be invaluable in informing the conversations we have with advisers and distributors across the sector as we spread the April Mortgages message, which has already struck a chord with so many. 

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“The volatility of the last few years has highlighted the benefits that mortgage advisers and their clients can enjoy through longer-term fixed rate mortgages, and we have already seen substantial interest in our innovative range of products.”  

He added: “Peace of mind for advisers is just as important to us as peace of mind for individual borrowers; we recognise the challenges that advisers face in delivering the highest standards of advice, based on each customer’s personal circumstances, particularly with Consumer Duty now in force. April Mortgages’ innovative product offering means not only that borrowers enjoy true certainty for longer periods, in a way that simply hasn’t been available previously, but advisers also get that peace of mind as they are free of the two-year remortgage rollercoaster that can lead to so much stress for all involved.

“I am passionate about bringing the April Mortgages message to greater numbers of advisers, and helping to establish us as the long-term lender of choice in the UK.” 

April Mortgages offers residential 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.