April Mortgages has announced an update to its lending proposition, now accepting up to four borrowers on a mortgage application, provided all applicants will reside in the property.
All four applicants’ incomes will be considered for affordability, helping advisers support a wider range of household structures.
Applications with three or four borrowers will benefit from the same April proposition, with access to the lender’s five, 10 and 15-year fixed rates, no ERCs when moving home or repaying from their own funds, unlimited overpayments and automatic rate reductions as loan-to-value improves.
James Pagan, director of product, portfolio and operations at April Mortgages, said: "The way people buy homes continues to evolve, and our proposition needs to evolve alongside it. We've introduced a number of practical solutions over the past few years to help advisers support clients with different affordability challenges, and accepting up to four borrowers is another example of that.
"By considering all four applicants' incomes, we're able to support more modern household arrangements while keeping the application process simple and efficient for advisors and their clients."
