The partnership means that SPF Private Clients’ advisers will be able to access April Mortgages’ long-term fixed rates, which launched in February this year.

Advisers who use Legal and General Mortgage Club will be able to refer suitable clients to SPF Private Clients, as the adviser is part of the L&G Referral Pro panel.

April Mortgages offers a range of fixed rate products from five to 15 years with loan to values (LTVs) up to 95% for purchase and 85% for remortgages.

Borrowers who move house or use their own funds to repay the mortgage are not subject to early repayment charges (ERCs), and the fixed rate lowers automatically as the borrower drops into the lower-LTV brackets as they pay off their balance.

A “competitive commission structure” is in place for advisers to reflect ongoing advice.

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April Mortgages has been growing its distribution, partnering with Stonebridge and HLPartnership and integrating with mortgage technology firms OhPen and Mortgage Brain.

SPF Private Clients is a national brokerage that employs over 220 people, with offices in 10 locations across the UK, Channel Islands, Hong Kong and Singapore.

The company was bought by international insurance broker Howden in 2022 as part of plans to grow its offering in the mortgage broking market and increase its existing general insurance wealth management position.

Last year, the firm said that gross mortgage completions rose by 9% to £3.9bn year-on-year, adding that there was also growth in revenue and consultant numbers.

 

Rate volatility has ‘highlighted the benefits’ of long-term fixed rates

Gareth Lowman, director and head of lending at SPF Private Clients, said: “We are delighted to be working with April Mortgages, adding long-term fixed rate mortgages to the range of options available to our advisers and their clients.

“The rate volatility we have seen in the last few years has highlighted the benefits that long-term fixed rates can provide, and there will be borrowers for whom these terms are more desirable than the traditional short-term fixed rates that are typically on offer.”

Mark Eaton, chief operating officer at April Mortgages, said: “April Mortgages is passionate about bringing real peace of mind to the UK mortgage market, and working with leading advisers like SPF Private Clients is core to our plans.

“Not only will the SPF advisers have access to our innovative range of products, but advisers from across the market will be able to refer suitable clients through the L&G Referral Pro panel. Expanding our distribution in this way means we can deliver peace of mind and improved certainty to greater numbers of borrowers and advisers.”