A new Dutch-style mortgage lender is set to release fixed-rate mortgages where the rates will automatically reduce as borrowers repay them.
April Mortgages, authorised by the Financial Conduct Authority in October, plans to offer loans to existing homeowners remortgaging and new buyers by the end of March.
The bank is a UK subsidiary of the Dutch asset manager DMFCO, which has made more than 100,000 loans totalling nearly €30 billion (£25.63 billion) in the Netherlands since 2014 through its mortgage lending arm, Munt.
The mortgages are from the UK subsidiary of an asset manager that has made more than 100,000 loans on homes in the Netherlands
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As in the Netherlands, the bank plans to fund its loans through investments from pension funds and life and insurance businesses, rather than from savers’ deposits like UK high street banks.
One of its unique selling points is that as homeowners pay