I’m pleased to announce that today we are launching the next phase of development for Magellan Homeloans.

Today we are expanding access to our entire product range to all Appointed Representative firms who with immediate effect can submit applications directly to Magellan or continue to use an approved packager – The choice of submission route is now with the individual firm.

The Near Prime range which is available direct to Appointed Representatives for the first time offers an edge in terms of competitive pricing that also benefits from our manual underwriting approach and flexible borrower criteria, whilst the Credit Repair range now benefits from Fixed rate products and greater pricing differentiation for borrowers.

As a reminder, Magellan’s innovative product ranges can accommodate borrowers:

• with a credit score decline who would benefit from a flexible underwriting approach, including self-employed borrowers with a 12 months trading record

• proving they can manage their financial circumstances but have minor adverse marks on their credit file including arrears, CCJs and defaults

• who suffered a life event that led to historic credit problems including arrears, CCJs and defaults, as well as IVAs registered and bankruptcies discharged more than 12 months ago

• trying to resolve historic credit problems including those with a current or recently satisfied debt management plan

• with a complex employment status including zero hours, agency and fixed-term contracts

• benefiting from family provided undervalue sales and gifted deposits

Today’s launch is another massive milestone for our business that will enable Magellan, with your help, to go on to achieve the success we all know is possible.

I know that everyone at Magellan is looking forward to working alongside you and your teams to make this happen.

Click here for Product highlights.

Remember, Magellan Homeloans manually underwrites each application on its own merits and doesn’t use credit scoring.

Access to the full product details, including rates, criteria and changes are available on our website: www.magellanhomeloans.co.uk

In the meantime, if you have any enquiries please contact your dedicated Regional Sales Manager or the Mortgage Desk on: 03303 355777.