Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

April Mortgages Now Accepts Up to Four Applicants Per Mortgage

April Mortgages has announced it will now accept up to four borrowers on a single mortgage application, as long as all applicants will reside in the property. The lender says this move is intended to make homeownership more affordable and to support modern household structures.

April Mortgages stated that more households are choosing to purchase homes together to combine incomes, making homeownership more achievable. The lender also noted that extended families are becoming more common and that adult children are staying in the family home for longer periods.

Under the new policy, April Mortgages will consider the incomes of all four applicants on the same terms as its standard borrowing criteria. Joint applicants will have access to the lender’s five-, 10-, and 15-year fixed rate products. These products come with no early repayment charges when moving home or repaying the mortgage with the borrowers’ own funds.

Additionally, April Mortgages’ products allow for unlimited overpayments and automatic rate reductions as borrowers move down loan-to-value (LTV) tiers. The lender said this change was shaped by discussions with advisers to provide more solutions beyond traditional two-borrower applications.

For letting agents and inventory clerks, this development may be relevant as it reflects evolving household arrangements and could influence the types of tenancies and property management scenarios encountered in the UK property market.