Magellan Homeloans

Magellan Homeloans, launched in August 2013, is the trading name of Mars Capital Finance and offers new mortgage loans to those with adverse credit histories due to a one-off event in the past such as bereavement or serious illness.

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Magellan Homeloans, launched in August 2013, is the trading name of Mars Capital Finance and offers new mortgage loans to those with adverse credit histories due to a one-off event in the past such as bereavement or serious illness.

Piloting its service through a range of providers including Sesame, Intrinsic and IN Partnership, Magellan offers three loans ranging between 65 and 75 per cent loan-to-value for purchasing and remortgaging for debt purposes, and two loans at 70 and 75 per cent loan-to-value for borrowers not acquiring the loan for debt consolidation reasons. All borrowers must however demonstrate a clean credit history for the last 12 months.

Magellan Homeloans operates on the idea that it aims to understand the circumstances of its customers and how they got into credit difficulty so that it can enable them to be homeowners.