IMLA is the trade association which represents the views and interests of UK mortgage lenders involved in the generation of mortgage business via professional financial intermediaries.
Mark Snape, managing director lending at Magellan Homeloans, said: “The intermediary sector continues to be the single most important source of new business for mortgage lenders and, as the UK’s newest mortgage lender, we feel it is important to be part of a trade association which is focussed on issues relating to intermediary lending. We’re looking forward to being part of the IMLA family and supporting its various events and initiatives.”
David Finlay, chairman of IMLA, said: “I would like to welcome Magellan Homeloans to IMLA and look forward to working with Mark and his team during the months ahead.”
Magellan Homeloans will consider mortgage applications from borrowers who can explain and document the reasons for their financial difficulties and can demonstrate they have not incurred any new adverse credit during the last 12 months.
The specialist credit repair lender does not use credit scoring, preferring instead to assess applications based on their own merits.
Magellan’s products are available via a panel of mortgage networks including Sesame, Intrinsic, IN Partnership, Pink Home Loans, First Complete, Homeloan Partnership, Mortgage Advice Bureau and The Whitechurch Network.