Legal & General Mortgage Club is pleased to announce the addition of April Mortgages to its lender panel, presenting an exciting opportunity for mortgage brokers and their clients. Initially, this partnership will provide exclusive access to April Mortgages’ longer-term fixed-rate remortgage products for HL Partnership and Stonebridge brokers who submit through the network, with plans to extend access to the rest of the club at a later date.
April Mortgages, a Dutch-owned firm that launched in the UK in February, offers longer-term fixed-rate mortgage products with a unique feature. As the loan is paid off, the interest rates on these products actually fall over time. The company’s remortgage products range from five to 15-year fixed-rate terms, starting at 4.99%. Additionally, April Mortgages stands out by not imposing early repayment charges for moving house, making overpayments, or refinancing during the initial product term.
Clare Beardmore, the director of distribution and mortgage club at Legal & General Mortgage Services, highlights the growing popularity of long-term fixed-rate products. She explains that these products provide customers with a sense of certainty over their monthly repayments, especially in a market where interest and swap rates are fluctuating. This move to include April Mortgages in the lender panel reflects the increasing demand for such products in the mortgage market.
Tim Hague, the commercial director at April Mortgages, views the partnership with Legal & General Mortgage Club as a significant milestone for the company. April Mortgages is committed to being 100% broker introduced and sees this partnership as an ideal route to develop long-term relationships with brokers and their customers. This move will undoubtedly open doors to new opportunities for April Mortgages in the UK market.
The inclusion of April Mortgages in the lender panel of Legal & General Mortgage Club is a step forward in providing more options for brokers and consumers in the mortgage market. This move reflects the increasing demand for longer-term fixed-rate products that offer stability in an unpredictable market. With the features of April Mortgages’ remortgage products and the long-term opportunities for brokers, this partnership is set to bring positive changes in the mortgage industry.