"Many borrowers find paying up-front fees and charges a real problem and these special deals enable brokers to address that issue head on."
The deals are available across Magellan’s range of Complex Prime products and include a free valuation (up to £600), free legal fees on all remortgages, a £450 cashback on all purchases and the ability to add completion fees to the loan.
Jason Neale, Sales Director at Magellan Homeloans, said: "These deals enable packagers to offer brokers greater choice and flexibility when advising clients. Many borrowers find paying up-front fees and charges a real problem and these special deals enable brokers to address that issue head on.”
Gina Blagden, Head of Residential Mortgages at Brightstar, said: “Anything that helps to make applying for a mortgage more affordable for borrowers has to be welcomed. I think this initiative will be well received by brokers and their clients, who will appreciate the option to offset some of the up-front costs of taking out a mortgage.”