As of today all Stonebridge advisers have access to Magellan’s range of credit repair mortgage products which aim to help residential borrowers who have suffered one-off life events such as redundancy, divorce or long-term illness - which subsequently led to financial difficulties - get back on the housing ladder.
Launched in the summer of 2013, Magellan Homeloans is aimed at those former adverse-credit borrowers who now have their finances back under control and can demonstrate they have not incurred any further adverse credit during the last 12 months.
Magellan will consider borrowers who have had some of the following types of adverse credit in their past: five CCJs of any value, defaults or arrears, bankruptcy, IVAs, debt management plans and debt relief orders. The lender will also consider self-employed borrowers with just one years’ worth of trading records.
