April Mortgages has struck a deal for new technology to help it introduce Dutch-style loans into the UK.
The new mortgage type will launch in April and will be for aspiring first-time buyers with up to a five per cent deposit. The interest rate on Dutch-style mortgages falls as the borrower pays off more of the loan.
Now it’s integrated with tech platform Mortgage Brain which gives brokers seamless access to April’s Affordability Calculator and Criteria Policy pages, streamlining the mortgage application process for brokers and borrowers alike.
The collaboration between Mortgage Brain and April Mortgages during the last year has ensured the existing technology was adapted to meet the needs of April’s lending model. In addition, the solution was rebranded ready for the lender’s launch.
The Affordability Calculator powered by Mortgage Brain’s technology enables brokers to quickly assess a borrower’s financial situation and determine their mortgage eligibility from April’s website.
Additionally, April is also available via Affordability Brain which checks affordability calculations from over 30 lenders, accounting for around 85 per cent of first charge residential mortgage lending in the UK.
Criteria Policy pages provide brokers with immediate access to detailed information on April’s lending criteria, helping them find the most suitable mortgage products for their clients. This solution allows April to keep their policies up to date with any changes efficiently.
“We are thrilled to partner with April Mortgages to integrate our technology into their website” says Neil Wyatt, Sales & Marketing Director at Mortgage Brain.
“This collaboration exemplifies our commitment to driving innovation in the mortgage industry and empowering brokers with the tools they need to succeed. We look forward to continuing to support April as they revolutionise the mortgage lending experience.”
And Tim Hague, Commercial Director at April Mortgages, adds: “The integration of Mortgage Brain’s technology into our website is a critical ingredient for April and our support for our broker partners. We’re committed to making mortgages more simple and by providing brokers with easy access to our Affordability Calculator and searchable Criteria Policy pages, we are streamlining the mortgage application process and delivering a superior experience for brokers and borrowers alike.”
