Just Mortgages has been named the first national high street estate agency linked broker partner for the new 100% LTV mortgage product from April Mortgages.
The new partnership means that the no deposit mortgage from April Mortgages is only available in national estate agencies through Just Mortgages. This includes advisers based in Spicerhaart estate agent branches nationwide, under the brands haart, Felicity J Lord, Chewton Rose, Darlows and Haybrook, as well as nearly 500 self-employed advisers across the UK. In total, Just Mortgages has 650 advisers across the country.
Designed to unlock access to homeownership for home movers and first-time buyers, the 100% LTV mortgage is aimed at those who are credit-worthy and have the income, but not necessarily the savings. It is available with either a 10 or 15-year fixed rate with borrowers benefitting from automatic rate reductions as the loan is repaid and the LTV improves.
In addition, the new product offers no early repayment charges for movers, unlimited overpayments and loans of up to 4.49 times income. It is available on houses with a maximum loan value of up to £600,000.
John Phillips, CEO of Just Mortgages and Spicerhaart, said: “This is a massive coup for Just Mortgages to be the exclusive home of April Mortgages’ new no deposit offering. It speaks volumes of how we are viewed in the industry and the service we provide through our talented advisers nationwide. It’s no secret that budding house buyers have been crying out for further support and this sensible and well thought out solution from April Mortgages presents a fantastic option.
“In lieu of any government support, it’s great to see a lender like April Mortgages answering the call of first-time buyers, bringing real innovation to those who are eager to realise their dreams and buy their own home. It’s great to be working with the team at April Mortgages and we are excited to see what we can achieve together for the benefit of buyers all across the UK.”
Rachael Hunniset (pictured), director at April Mortgages, added: “We’ve been delighted with the market response to our no deposit mortgage. Opening this product up to first-time buyers and those who have previously owned a home provides a route to homeownership for so many. Saving for a deposit can be a challenge, whether you are starting out or starting over.
“Just Mortgages is the perfect partner to carry our new no deposit mortgage, given their fantastic footprint, proven reputation and clear ability to deliver responsible, high-quality advice. Not only are Just Mortgages highly regarded within the lender community, but customers – including many first-time buyers – continue to rate them for their high levels of service. This is an exciting partnership and we look forward to working with the team at Just Mortgages to help more people purchase their first home.”
