Specialist credit repair lender Magellan Homeloans is working with Payplan Financial Services (PFS) to make credit repair mortgage facilities available to its clients.
PFS specialises in providing financial services to clients who may have experienced financial difficulties. Magellan Homeloans is able to help 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.
Jon Sturgess (pictured), head of sales at Magellan Homeloans, said: “We’re delighted to be working with PFS to provide their clients with credit repair mortgages. We assess each and every case on an individual basis and don’t use automated credit scoring systems.”
Kevin Blount, director of sales at PFS, added: “It’s great to see a lender such as Magellan enter the market with a refreshingly new approach for borrowers who have had historical debt problems.
“A Magellan mortgage means that borrowers who have resolved their credit issues can finally put their financial difficulties behind them, which is an extremely compelling proposition.”