Magellan cuts fixed rates on Complex Prime range

25 April 2017

Magellan Homeloans, the specialist mortgage lender, has cut its 2-year fixed rate pricing across its range of Complex Prime mortgage products.

Rate cuts of up to 1.01% have been made on mortgages up to 85% LTV. Magellan’s Complex Prime range offers a choice of 2 & 3 year fixed rates and Libor trackers, with rates starting from just 2.99%. All mortgages are manually underwritten and Magellan doesn’t use credit scoring.

Jason Neale, Sales Director at Magellan Homeloans, said: “These cuts of up to 1.01% on our 2-year fixes will be welcome news for both brokers and their clients. Our tracker rates have also been brought in-line with our fixed rates, giving borrowers a choice of either a fixed rate, or a variable rate deal with no early repayment charges.”

Magellan’s Complex Prime and Credit Repair products have been designed specifically for borrowers who are unable to obtain a mortgage from a high street lender, including those who are self-employed and who have complex incomes.

Full details of Magellan’s new product pricing, including a downloadable Product Guide, are available at: www.magellanhomeloans.co.uk