"The rate volatility we have seen in the last few years has highlighted the benefits that long-term fixed rates can provide"
- Gareth Lowman, head of lending at SPF Private Clients
April Mortgages has expanded its distribution through a new partnership with SPF Private Clients.
The partnership means that SPF advisers will have access to April Mortgages’ range of long-term fixed rates. In addition, advisers who use Legal & 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 ranging from five to 15 years, and LTVs of up to 95% for purchase and 85% for remortgages.
Borrowers who move house or use their own funds to repay the mortgage are exempt from early repayment charges, while the fixed rate reduces automatically as the borrower drops into lower LTV brackets as they pay off their balance or the property gains in value.
Advisers will benefit from a commission structure reflecting their ongoing advice. If the borrower approaches April Mortgages for further borrowing needs, they are pointed back to the adviser.
April Mortgages recently rolled out its full mortgage range to members of HL Partnership, complementing its pre-existing partnerships with Stonebridge and Legal & General.
Gareth Lowman, head of lending at SPF Private Clients, commented: “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.”
