Magellan announce entry into HTB market

Property Finance 444

Magellan Homeloans has announced that it has opened its entire residential product range to HTB borrowers.

According to the lender, rates start from 2.99% and there is a fees assisted option on all two and three-year fixed mortgages, offering no application or valuation fee and a £450 cashback on completion.

Other benefits include mortgage offers valid for up to six months and proc fees paid on exchange of contracts.

Jason Neale, sales director, said: “I’m delighted that we can offer our expertise and extensive product range to Help to Buy borrowers who may have struggled previously to find a lender who could meet their complex needs. Add to that our aim of providing a best-in-class service and I believe we can really add value to brokers and their Help to Buy clients.”

Vikki Jefferies, proposition director at PRIMIS and PTFS, commented: “We strongly welcome Magellan’s entry into the Help to Buy market. As a sector that will benefit greatly from innovation and development, Magellan is a great fit to bridge the numerous gaps, particularly when it comes to those customers with more complex circumstances who don’t qualify for traditional high street products.”

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