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."
