April Mortgages said that Pagan has “played a central role in the successful launch” of the firm, and as director of product and portfolio management will be “integral in delivering the creative products that will bring about a sea change in the stress levels of borrowers and mortgage advisers”.

Pagan previously worked at Nationwide Building Society for around 20 years, most recently as head of strategy and implementation for its Consumer Duty change programme, head of mortgages and head of customer management and insight for mortgages.

April Mortgages, which soft launched in February this year, is a long-term fixed rate lender backed by Dutch pension funds and has come out with 5-15-year fixed rates up to a maximum of 95% loan to value (LTV).

The firm has been growing its distribution, teaming up with SPF Private Clients, and has agreed partnerships with Stonebridge, HLPartnership and Legal and General Mortgage Club, and integrated with mortgage technology firms OhPen and Mortgage Brain.

Mark Eaton, chief commercial officer at April Mortgages, said: “April Mortgages is committed to its mission of offering an alternative to the frenetic, stressful experience of short-term fixed rates, for both borrowers and mortgage advisers.

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“James has been an integral part of April Mortgages’ journey thus far, and his experience means we will continue to be at the forefront of genuine product innovation as we deliver longer-term fixed rates that will shake up the mortgage market.”

Pagan added: “I’m thrilled to be heading up product development at April Mortgages, and continuing to build awareness of the benefits that certainty and flexibility can deliver to mortgage advisers and borrowers.

“My experience so far in the mortgage market has given me a great insight into why we so badly need these products, and how they can provide genuine security and comfort to everyone involved. For too long it has been difficult for borrowers to benefit from longer-term fixed rates in the UK, but we are determined to change that.”