April Mortgages has been praised for the "security" that it offered when supporting a borrower with a 15-year fixed rate mortgage.
The lender provided the borrower with a £580,000 mortgage, fixed at 4.99% over 180 months at 60% LTV.
The borrower specifically wanted a long-term fixed rate in order to protect themselves from future interest rate movements.
The case was introduced by AMG Financial Solutions, an appointed representative of HLPartnership.
The lender offers fixed rates ranging from five to 15 years, available up to 95% LTV.
Furthermore, borrowers are able to benefit from built-in flexibility, meaning that their fixed rate will reduce automatically over time as they drop to a lower LTV bracket.
There are also no early repayment charges for those who repay their mortgage when moving house or using their own funds.
Financial administrator at AMG Financial Solutions, Lewis Jackson, 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."
Chief operating officer at April Mortgages, Mark Eaton, 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."
Recent Stories