April Mortgages Limited

April Mortgages Limited (April or the Company) is a new UK residential mortgage lender. It received authorisation as a mortgage administrator and lender from the Financial Conduct Authority, number 989666, in October 2023. During the year under review April completed building its IT and operational capabilities. April Mortgages Limited opened to new business in November 2023 with a limited number of business partners. In 2024, the Company became fully operational, with lending activity commencing in May. By the end of the year, April had originated 40 mortgage loans at a value of £10 million, marking a successful transition into live trading. Administrative expenses continued to be funded by the Company’s parent via a subordinated debt facility and additional share capital. The Company also grew its operational capacity throughout the year, increasing its number of full-time permanent employees to 19 by year-end; 2023: 8. The company entered a funding agreement with April Funding 1 Limited, providing sufficient funds for lending according to its business plans.