April has lowered rates as part of a simplification of its range, ensuring borrowers can lock in the certainty and peace of mind delivered by April’s longer-term fixed rates at a lower cost
April Mortgages, the lender seeking to introduce Dutch-style longer-term products, has reduced the interest rates on its range of five to 15 year fixed rate mortgages.
April has lowered rates as part of a simplification of its range, ensuring borrowers can lock in the certainty and peace of mind delivered by April’s longer-term fixed rates at a lower cost.
Rates across the range of five-, 10- and 15-year fixed rate mortgages have been reduced by up to 0.10 bps. As a result, rates start at 4.80% for the five-year fix, at 4.85% for the 10-year fix and at 4.95% for the 15-year fixed rate product.
April’s fixed rate products are designed so that they become even better value as the borrower drops into lower loan-to-value bands, for instance as a result of their monthly repayments or through house price growth. As this happens, the fixed rate is automatically lowered, providing borrowers with greater security.
What’s more, should the borrower repay the mortgage early, through either the sale of the property or using their own funds, then there are no early repayment charges.
April Mortgages is on a mission to spread peace of mind throughout the UK mortgage market, and has recently expanded its distribution through partnerships with a host of leading mortgage brokers including Coreco, Tembo Money and SPF Private Clients.
A spokesperson says: April Mortgages is determined to bring true peace of mind to the nation’s mortgage borrowers and brokers, and these rate cuts make the prospect of securing a longer-term fixed rate even more attractive.