Specialist mortgage lender Magellan Homeloans has announced it will distribute its full range of mortgage products through the specialist distributor and packager 3mc.
As a result, intermediaries will be able to provide their clients with Magellan’s Complex Prime and Credit Repair products. These products have been targeted specifically at those borrowers who, for one reason or another, can’t secure a mortgage from a high-street lender.
“Specialist mortgage desks and packagers provide huge value to intermediaries by helping them to place and, more importantly, complete cases that fall outside the strict criteria of high street lenders,” Jason Neale, Sales Director at Magellan Homeloans, commented.
“3mc is one of the leading specialist lending distributors in the UK and we are delighted to be working with them to help their intermediaries benefit from the increasing opportunities within this sector,” he added.
Doug Hall, Director of 3mc, said of the new alliance: “Magellan Homeloans’ focus on personal underwriting means that borrowers rejected by a high street lenders’ credit scores have another opportunity to obtain a mortgage. We look forward to working with them over the coming months.”
This comes hot on the heels of Magellan’s tie-up with PMS Mortgage Club, which will give PMS members access to Magellan’s full range of products.