Positive Lending 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 legal fees on all remortgages, or £450 cashback on purchases.
When submitted via Positive Lending there is no packager fee, making this a no upfront fees product.
Stephanie Charman, director of mortgages at Positive Lending, said: “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, added: “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.”