April Mortgages has rolled out its range of longer-term fixed rate mortgages to all brokers at SPF Private Clients.
SPF Private Clients is one of the best-known brokerages in the sector, with 220 people employed across 10 locations both in the UK, Hong Kong and Singapore.
The full rollout follows a trial period where a limited number of SPF brokers had access to April’s range of five to 15 year fixed rate mortgages.
This extension of the partnership opens up more options for greater numbers of brokers across the market, says April.
Brokers who use the Legal & General Mortgage Club can refer suitable clients to SPF Private Clients, as it is part of the L&G Referral Pro panel. As a result brokers receive a competitive commission, without the risk of cross or repeat sales, while delivering access to longer-term fixed rate products to their clients.
April Mortgages recently announced reductions of up to 10 basis points on its range of 5, 10 and 15 year fixed rate mortgages, with rates now starting at 4.90%.
In addition, it has introduced higher loan-to-income caps alongside broadening its capital raising criteria, opening up the benefits of longer-term fixed rate mortgages to more borrowers.
Gareth Lowman, Director, Head of Lending at SPF Private Clients, comments: “The initial trial was a great success. It’s clear that there is a real need for truly long-term fixed rates for those who value the security and certainty they offer, particularly after the volatility we have seen in recent years. I have no doubt that these products will be welcomed by our entire broker team and their clients.”
And Mark Eaton, Chief Operating Officer at April Mortgages, adds: “April Mortgages is committed to working closely with the nation’s top brokers to ensure that peace of mind is available to more borrowers through our longer-term fixed rate products. These partnerships are also crucial to our plans to refine our products and processes, taking broker feedback on board throughout.”
