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An April Interest Only+ mortgage gives your clients greater flexibility over how they manage their mortgage, with affordability that reflects how the mortgage is structured and more options for clients borrowing into retirement.

With Interest Only+ your client pays the interest each month, with the capital repaid at the end of the term through an acceptable repayment strategy. With Part & Part they can combine Interest Only with capital repayment, giving you more ways to structure a mortgage around their needs.

More possibilities for clients aged 50+

Interest Only+ opens up more options for clients approaching or already in retirement, giving you another mainstream mortgage solution to explore before specialist later-life options such as RIO or Equity Release.

For clients aged 50+, key criteria include:

Miniumum income of £24,000
No minimum equity requirement, subject to maximum LTV limits
No maximum age at the end of term for sole applicants
State pension, private and workplace pension completed
Pension credit accepted
Pension pots considered at 4% of the fund value as annual income

Affordability that reflects the mortgage+

Interest Only+ is asssessed on an Interest Only basis, while Part & Part is assessed on a Part & Part basis.

It's a more tailored approach to affordability that could help make more of your clients' cases work.

Just click below to use our AffordAbility+ Calculator:

AffordAbility+ Calculator

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Interest Only+
Key Features

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Interest Only+
Case Study

And the + comes as standard:

Your clients also benefit from the flexibility built into every April mortgage:

+ 5, 10 and 15 year fixed rates

+ No ERCs when moving home

+ No ERCs when repaying from your clients own funds

+ Uncapped overpayments

+ Automatic rate reductions as LTV improves

More flexibility. More oppurtunity. More ways to say yes.

The Plus Comes as Standard

Interest Only mortgages require a suitable and credible repayment strategy to repay the outstanding capital at the end of the mortgage term. All applications are subject to affordability assessment and lending criteria.

April Mortgages Limited. Registered Office: 158-160 North Gower Street, London, NW1 2ND. Registered in England and Wales company number: 13514833. April Mortgages Limited is authorised and regulated by the Financial Conduct Authority (FRN 989666).