Especially for Those That "Help to Buy" Will Callously Leave Behind..

Magellan Homeloans will offer mortgages of up to £400,000 to people who have had county court judgments, individual voluntary arrangements (IVA) or even bankruptcy orders against their names. But borrowers will be charged interest rates starting at 8.55% compared to current "best buy" rates of as little as 1.5% on conventional loans.
Magellan is the brainchild of Matt Gilmour, who previously ran sub-prime lender Unity Homeloans, a joint venture with South African bank Investec, which was one of the earliest casualties of the financial crisis. Unity also offered "self-certification" loans of up to £1m, but the company was dissolved in 2009.

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