Magellan Home Loans

Complex lending doesn't need to be complicated

Magellan understand that life is complicated. Itís natural to try and simplify borrower circumstances, to tidy everything up with restrictive credit scoring Ė but reality just doesnít work like that. Thereís more to every situation than ticks in boxes and thatís why we guarantee 100% manual underwriting on every single case. No credit scoring in sight.

For your clients who may struggle to obtain a high-street mortgage, whether itís because of a poor credit score, becoming recently self-employed, affordability restrictions or a less than perfect credit history, Magellan have a range of products to help.
 
The Complex Prime range offers an edge in terms of competitive pricing that also benefits from our manual underwriting approach and flexible borrowing criteria, whilst the Credit Repair range benefits from fixed rate products and greater pricing differentiation for borrowers.

Please Note: Magellan Homeloans will only accept mortgage enquiries or applications from directly authorised brokers or appointed representatives of one of the mortgage networks shown below:

InPartnership, Alexander James, Fair Investments, Financial Advice Centre, First Complete, Hanson Wealth, Home Loan Partnership, Ingard, Intrinsic, John Charcol, Julian Harris, Mortgage Advice Bureau, Mortgage Intelligence, New Leaf Distribution, Openwork, Personal Touch, Pink Home Loans, Sesame, Stonebridge, TenetLime, TenetConnect, The Right Mortgage, Total Mortgage Network, Tuto Money and Whitechurch.

New and Exclusive BTL Range Through AToM

AToM are delighted to say we have partnered with Magellan Homeloans for the launch of their brand new BTL products. Magellan have designed this range "by landlords for landlords" and have assembled a dedicated BTL underwriting team with an average of 10 years' experience underwriting BTL mortgages.

  • Up to 80% LTV (HMOs and MUBS up to 75% LTV)
  • Available to individuals, SPVs and Trading Ltd Companies
  • Up to 4 applicants per application
  • BTL guarantor option - for inexperienced landlords to purchase HMOs and MUBs using an experienced landlord as a guarantor
  • Gifted deposit/Gifted Equity from family members accepted
  • No limits on portfolio size and no cashflow or business plans required
  • No PGs required for SPVs and borrowing under 65% LTV
  • Joint legal representation with Borrower's solicitor available (min 4 SRA managers in firm)
  • Remortgages within 6 months of purchase considered!

**Fees Free Residential Range through AToM**

  • No upfront application fee
  • No completion fee
  • Free standard valuation (up to £600)
  • Free standard legals on all remortgages
  • £450 cashback on purchases
  • For loans up to £500,000
  • Available on all product tiers

New Criteria Highlights!

  • Help to Buy Shared Equity Scheme now available!
  • Loans up to £450,000
  • Up to 75% LTV
  • Residential Mortgages now available in Scotland (postcode restrictions apply)

Magellan's innovative product ranges can accommodate:

  • Up to 4 applicants on 1 application
  • All 4 incomes considered (primary applicant must earn £10K minimum)
  • Terms based on age of eldest income earner
  • With a credit score decline who would benefit from a flexible underwriting approach, including self-employed borrowers with only 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
  • Up to 85% LTV on Complex Prime Range
  • Complex Prime and Credit Repair products with rates starting from 2.99%
  • 2 and 3 years fixed rates
  • Variable rates with no ERCs
  • Affordability based on reversionary rates
  • Benefiting from family provided undervalue sales and gifted deposits
  • Fees added above LTV limits
  • Complex employment structures 
  • Contractors accepted
  • Share of Net Profit accepted for Company Directors

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

To discuss Magellan Home Loans, call the sales team on 01403 272625 (option 2) or email us at sales.team@atomltd.co.uk