April Mortgages, the longer-term mortgage lender, has partnered with advisory firm Coreco.
Now that the two firms have partnered, Coreco’s advisers will be able to access and advise on April Mortgages’ product range.
This includes five- to 15-year fixed rate mortgages, where the rate automatically reduces as the borrower falls into a lower loan-to-value (LTV) bracket.
Borrowers will be exempt from early repayment charges (ERCs) if they use their own funds to repay the mortgage or move house.
April Mortgages will also pay advisers commission over the life of the product, including a fee on the fifth anniversary of the mortgage and when the borrower takes a further advance.
Andrew Montlake, managing director of Coreco, said: “Lenders have historically made it too difficult for borrowers to secure their rate for an extended period of time without accepting unrealistic tie-ins and penalties, so I’m delighted to see April Mortgages is bringing a fresh approach.
“I have no doubt that our advisers and clients will welcome the option of a flexi-fix-style five- to 15-year fixed product that has removed the traditional obstacles faced by both borrower[s] and brokers.”
Mark Eaton (pictured), chief operating officer at April Mortgages, added: “Partnerships with leading firms like Coreco [are] a crucial step in our aim to deliver practical new solutions that offer borrowers and brokers more peace of mind than currently exist.
“We are serious about working with brokers, listening to their requirements and helping them change the UK mortgage market for the better. We believe Coreco are a perfect partner for us in this regard.”
April Mortgages is backed by Dutch asset manager Munt and launched in the UK earlier this year. This month, the lender has hired James Pagan as director of product and portfolio management and Stephanie Burke as its director of risk and compliance.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
