April Mortgages has announced a new partnership with Coreco.
Coreco is a London-based provider of mortgage and financial advice. As a result of the partnership, Coreco advisers will have access to April Mortgages’ range of five to 15-year fixed rate mortgages.
The fixed rate reduces automatically over time as the borrower drops into a lower LTV bracket, as they pay off their balance or the property increases in value. Should the borrower move house or use their own funds to repay the mortgage, they are exempt from any early repayment charges.
In addition, advisers benefit from a commission structure, which guarantees future commission payments over the full term of the April product.
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 5-15 year fixed product that has removed the traditional obstacles faced by both borrower and brokers.”
Mark Eaton (pictured), chief operating officer at April Mortgages, added: “Partnerships with leading firms like Coreco is 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.”
