April Mortgages has announced a new funding partnership with Scottish Building Society.
Founded in 1848, Scottish Building Society is the world’s oldest remaining building society and one of the UK’s longest-established mutual lenders.
Under the partnership, Scottish Building Society will invest in both April Mortgages' existing residential mortgage portfolio and on a forward flow basis, providing funding to support the origination of longer-term fixed rate mortgages across the UK.
Dirk Bekkers (pictured), CEO of April Mortgages, said: "Scottish Building Society is exactly the type of partner that fits our platform: long term in orientation, focused on quality and aligned on the principle that good mortgage lending starts with fair outcomes for customers. This partnership strengthens our funding base and supports the next phase of our growth as we continue to expand our distribution and product offering across the UK market."
Paul Denton, CEO of Scottish Building Society, added: "As a mutual organisation, we take a long term and prudent approach to how we deploy our members' capital. April Mortgages' focus on longer term fixed rate lending, combined with disciplined underwriting and a customer first product design, fits well with our investment philosophy. We look forward to supporting their continued growth."
