News 11.03.24

Twenty7tec adds April Mortgages to SOURCE module

Today, leading adviser tech provider Twenty7tec announces the addition of April Mortgages to its SOURCE module, to give advisers access to an innovative range of longer-term fixed-rate mortgage products designed to give borrowers and brokers real peace of mind.

April currently offers Residential Remortgages, allowing clients to fix into an interest rate for 5-15 years with no early repayment charges when they move or pay down their loans early from their funds. Borrowers also benefit from lower rates as the LTV reduces. April may be new to the UK, but their sister lender, MUNT, has experience with this approach to mortgages in the Netherlands, lending to more than 100,000 borrowers and establishing a position as one of the top lenders in the country.

Nicole Smith, Lender National Account Manager at Twenty7tec, commented: “We’re pleased to be working with April Mortgages and welcome the opportunity to assist with their presence in the Intermediary space.

“April’s approach to lending is modern and flexible. It allows advisers to lock their clients in for longer terms, giving them peace of mind in a difficult market over the last 18 months with rising interest rates and increased pressure from the ongoing cost-of-living crisis. After their success in the Netherlands, I look forward to seeing how Twenty7tec can support April Mortgages’ ambitions in the UK market.

“Residential remortgage products will be available to SOURCE for HLP advisers via our Twenty7tec Velocity platform. In addition, April Mortgages’ lending criteria will be available to search alongside their products, providing certainty to users earlier in the research process.”

Tim Hague,  Commercial Director of April Mortgages, noted:  “Our approach is about being fairer to borrowers. Every fixed-rate offers peace of mind but with added flexibility when borrowers’ circumstances change, we won’t penalise them for moving home or paying off the loan, and we will reward them for paying down the loan by reducing their rate.  

“Only available through the HL Partnership and Stonebridge networks initially, we want to build long-term relationships with borrowers and brokers, which is why our model rewards brokers over the life of the loan.”