Positive Lending partner with Magellan Homeloans to launch ‘no upfront fees’ complex prime exclusive

By Bridging Loan Directory 11th May 2017

Positive Lending, the multi-award winning specialist packager, today announces they are supporting Magellan Homeloans launch of their fees assisted packager exclusive range by waiving their packager fee. All applications across Magellan’s Complex Prime products will benefit from a free valuation (up to £600), free legals fees on all remortgages or £450 cashback on purchases and when submitted via Positive Lending there will would also be no packager fee, making this truly a no upfront fees product.

Stephanie Charman, pictured, Director of Mortgages at Positive Lending commented;

“It’s fantastic to see Magellan provide packagers with a product range that not only supports borrowers needing flexible underwriting but also assistance with upfront fees. With their complex prime range also offering competitive product pricing this becomes an attractive option for both existing and first time buyers who may be struggling to find those extra funds.”

Jason Neale, Sales Director at Magellan Homeloans commented;

“Packagers provide huge value to intermediaries by helping them to place non-standard cases and more importantly, work to present each application to lenders so that it has the greatest chance of success.

To provide this level of value without charging a fee is an incredible offer from Positive Lending which combined with Magellan’s free valuation and legal fees product provides brokers with an irresistible offer of absolutely no upfront fees for their clients.”