Specialist lender Magellan Homeloans has partnered with Connect for Intermediaries and will join both its packager and network panel.
Magellan specialises in loans for borrowers who struggle to obtain a high street mortgage. This will include those who are recently self-employed, borrowers with a poor credit score, those with affordability restrictions as well as those with a less than perfect credit history.
Magellan will also provide mortgages for those on zero hours or fixed term contracts, and those on long-term benefits.
It will lend for up to 35 years and extend this beyond normal retirement ages. All loans are manually underwritten.
This appointment comes just one week after Secure Trust Bank also joined Connect for Intermediaries’ panel.
Connect for Intermediaries chief executive Liz Syms says: “We are bringing in a range of lenders and solutions that it is hard for brokers to access elsewhere.
“There is a huge proportion of the population that is underserved by the mainstream mortgage market, and Magellan helps to fill this gap.”