April Mortgages has provided a borrower with a 15-year fixed rate mortgage.
The lender provided the borrower with a £580,000 mortgage, fixed at a rate of 4.99% over 180 months, at 60% LTV.
The borrower specifically wanted a long-term fixed rate in order to protect himself from future interest rate movements, as well as providing peace of mind.
The case was introduced by Staffordshire-based AMG Financial Solutions, an appointed representative of HLPartnership.
Lewis Jackson from AMG Financial Solutions said: “When the client made clear their preference for a long-term fixed rate, there was no question that April Mortgages would be the best option. The fact that the client could secure the rate over such a long period, without the threat of early repayment charges, was particularly appealing – it means they enjoyed the security they needed, without the risk of paying large fees during the term.
“The process was tremendous as well. Even though there were a few issues during the application, the fact that April offered direct access to the underwriter on the case meant that problems could be discussed and resolved instantly.”
Mark Eaton, chief operating officer at April Mortgages, added: “This case is a great example of the unique way in which April Mortgages can support borrowers across the UK. The borrower had seen the interest rate uncertainty of the last few years, and valued the ability to secure a competitive rate for the long-term, while the adviser was clear that April was the best option for their needs.
“We are passionate about providing peace of mind to borrowers and advisers alike. Borrowers will see their mortgage rate fall as they pay off the balance or as their property price increases, while advisers enjoy an ongoing income from clients placed with April. Everyone involved enjoys greater certainty and security, and we look forward to continuing to spread the April Mortgages message with greater numbers of advisers in the months ahead.”