Connect for Intermediaries has announced the exclusive addition of April Mortgages to its lender panel, making Connect one of a restricted number of networks where advisers can access April’s product range.
April’s product suite includes fixed-rate terms from 5 to 15 years, uncapped overpayments, and interest rates that automatically reduce as the loan-to-value improves. ERCs are not charged when borrowers move home or redeem their mortgage using personal funds, sale of assets, business income or inheritance.
With lending of up to 6 times income and a minimum income threshold of just £24,000, April lends around 25% more than the average high street bank. Their new Interest Only+ product enables borrowers to make interest-only payments with capital repayment deferred to term-end or property sale, freeing up cash for savings, investments or lifestyle flexibility.
Advisers will benefit from direct access to experienced underwriters, all of whom are former brokers, empowered to make case-by-case decisions. Procuration fees include 0.45% upfront, with additional payments at years five and ten, and the same rate on further advances and product transfers.
Jane Benjamin, director of mortgages at Connect for Intermediaries, commented: “April Mortgages is an exciting and exclusive addition to the Connect panel. Their forward-thinking lending and flexible criteria perfectly align with how our brokers work and what their clients need. We’re proud to be one of the only networks offering access to this powerful proposition.”
Rachael Hunnisett, director of mortgage distribution at April, added: “We’re delighted to be working with Connect Mortgage Distribution, whose expertise and reach make them the perfect partner to share the unique benefits of our modern longer-term fixed rate with borrowers. At April Mortgages, we believe in giving customers greater certainty and control over their home ownership, and this new partnership helps make that vision a reality.”
