First time buyers

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If your first time borrower doesn’t fit a standard mortgage application, Magellan may be able to help them make their first step onto the property ladder.

At Magellan, we don’t credit score. We believe that our manual underwriting guarantee, offers borrowers a personal service that means we approach every borrower's circumstance with an open view.

Our product ranges offer your customers a variety of flexible solutions as we can consider:

  • A minimum age of 21;

  • Up to a 35-year term;

  • Accepting self-employed borrowers and contractors with at least 12 months trading history;

  • Regular commission, bonuses and overtime for employed borrowers;

  • Employed borrowers with only 3 months in their current role;

  • A black mark on their credit file;

  • Including income from a second job with 12 months’ experience;

  • Close family gifted deposits;

  • Up to 5% builders gifted deposit.

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Alternatively you can speak to one of our friendly and knowledgeable team at the mortgage desk about any of our mortgage products and services on: 0207 197 9424.