April Mortgages has launched Interest Only+ for over 50s, a major enhancement to its interest-only proposition that gives advisers more options to support clients before and throughout retirement.

The new proposition marks a significant expansion of April’s approach to over 50s, with a £24,000 minimum application income, no minimum equity requirement and no maximum age at the end of the mortgage term for sole applicants.

Interest-only and part & part affordability will now also be assessed on an interest-only and part & part basis, respectively, rather than on a capital repayment basis.

Countrywide Surveying Services (CSS) has extended its long-standing relationships with Coventry Building Society.

Under the renewed contract, CSS will continue to deliver valuation services in support of the society’s residential and buy-to-let (BTL) mortgage lending activity in the UK.

The arrangement reflects a mutual commitment to maintaining high professional standards, adopting new technologies where they add value, and ensuring robust property risk assessment throughout the lending process.

Rimbal has appointed Simon Black as its chief commercial officer.

The firm behind the IFA network, ValidPath, said Black’s appointment reflects its strong growth in recent years as it continues to build and operate the infrastructure that powers independent financial advice firms. In his new role, he will support the development and delivery of value-added services for firms and clients across its platform.

Black brings over 25 years’ experience in building and scaling technology-led businesses. He began his career at major software firms including IBM, HP and Autonomy, before joining enterprise automation platform Bizagi. He then founded the AI firm, Awaken Intelligence, ahead of a US counterpart, to form Creovai, which was later acquired by Capacity.

Castle Trust Bank has enhanced its TermTen BTL proposition, making it easier for brokers to find a solution that more accurately reflects their clients’ needs.

The bank has introduced a new price category for medium HMOs of between seven and 10 rooms, offering a five-year fix at 5.99% at up to 75% LTV. Loans are available from £200,000 to £5m with a 3% arrangement fee and a 1% exit fee.

The new category sits between small HMOs of up to six rooms and large HMOs of between 11 and 15 rooms, helping brokers match pricing more closely to the size of their clients’ properties.

Inspired Lending has reduced its bridging rates following increased funding support from the Pears family.

First-charge bridging finance is now available from 0.75% per month, down from 0.79%, while rates for second-charge bridging, heavy refurbishment, semi-commercial and commercial lending now start from 0.85% per month.

Inspired Lending said the increased backing from the Pears family enables it to offer the new pricing while retaining its private funding model, with no senior debt.

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