"All applications will still be assessed by skilled underwriters and we won’t be using credit scoring."
The new portal also offers electronic submission of supporting documentation as well as case tracking and status updates.
Simon Read, Managing Director Lending at Magellan Homeloans, said: “Whilst we pride ourselves on offering mortgage intermediaries and their clients a flexible approach to credit decisions it’s clear that an online submission process is a must in today’s mortgage market. Our new portal offers mortgage intermediaries the efficiency benefits that online technology can offer, whilst not replacing the human touch that intermediaries tell us is invaluable.
“All applications will still be assessed by skilled underwriters and we won’t be using credit scoring. The portal will simply make the process of submitting an application and tracking its progress a lot quicker and easier.”
Sam Wright, Mortgage Adviser at Finance Advice Centre, said: “The launch of the Magellan Hub a modern broker portal, compliments Magellan's competitive product range of specialist mortgages. As a busy firm of mortgage advisers, we welcome the opportunity to access these products more quickly and efficiently. Having used the Hub, there’s no doubt it greatly enhanced my user experience of dealing with Magellan."
