April Mortgages has extended its range of longer-term mortgages to all HLPartnership advisers as the new lender boosts its distribution chain.
The Dutch-style lender, launched in February, offers house purchase and remortgage products available up to 95% loan to value and 85% LTV, respectively, on fixed terms from five to 15 years.
It does not apply early repayment charges for borrowers moving house or using their own funds to repay the mortgage – while fixed-rate loans automatically reduce as customers pay off their balance and drop into a lower LTV bracket.
The lender offers brokers a procuration fee for introducing cases — but advisers also earn an annual service fee paid from the fifth anniversary of the product start date, plus additional fees for product transfers and for further lending.
April Mortgages established early partnerships with the HLPartnership and Stonebridge networks, among others, at the start of the year.
The lender is backed by The Hauge-based DMFCO asset management, which has built up a mortgage portfolio valued at over €28bn for 35 institutional investors since it was launched in 2014.
HLPartnership commercial director Neil Hoare says: “These mortgages are an important addition to our advisers’ product portfolio recognising that customers should have access to new and innovative products which support the ongoing need for advice in achieving good outcomes.”
April Mortgages chief operating officer Mark Eaton says: “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.”
