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Who's an April customer?

 

At April Mortgages, we offer longer term fixed rates, without Early Repayment Charges if your client moves home. We will also lower the rate on their mortgage as they pay it off and reduce their debt. It’s a fixed rate, where the rate actually falls.

 

We think there are lots of borrowers for whom this combination of certainty and flexibility will be well suited.

 

Here are a few examples:

Maya and Family

 

Maya divorced just over two years ago and purchased a three-bedroom home as a fresh start for herself, her 21-year old son and 19-year old daughter.

 

She has recently started thinking about remortgaging and is shocked at how much her monthly payments will increase following interest rate rises. Having been through a turbulent period, she doesn’t want any more nasty surprises in her life and is keen to fix her rate so that she can be sure of her mortgage payments.

 

However, she is also aware that her circumstances may change in the future. Her son has started a new job and is thinking about moving out once he establishes his career and her daughter has just started university. There’s a chance that she won’t need such a large property in future years. She’s also hopeful of meeting a new partner and aware that she may want to move in with them if she enters a new relationship.

 

With an April mortgage she would have:

 

  • The certainty of knowing exactly what her mortgage payments will be each month;
  • Freedom to move home without paying an Early Repayment Charge;
  • The opportunity to reduce the rate she pays as she shrinks the balance of her loan.
Who might suit an April mortgage?

Jeff and Sylvia

 

Jeff and Sylvia are both approaching retirement and looking forward to a life where they have to work less hard. They are currently in the process of remortgaging their home and hope to pay off the balance as quickly as they can.

 

They may be able to pay it off completely if Sylvia is paid her regular bonus in the coming years, but this is uncertain in the current economic environment.

 

As well as this flexibility to pay off the mortgage, they are also concerned that their pension won’t stretch very far when they do retire and so they want certainty of knowing the maximum they will need to pay on their mortgage long into the future.

 

With an April mortgage they would have:

 

  • The ability to borrow into retirement;
  • The certainty of knowing their monthly mortgage payments;
  • The opportunity to make overpayments and pay off their mortgage early without paying Early Repayment Charges.
Who might suit an April mortgage?

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