Stonebridge added to Magellan Homeloans distribution panel

Stonebridge Mortgage Solutions, the network arm of Stonebridge Group, has today announced it has been appointed to the distribution panel of Magellan Homeloans.

From today all Stonebridge advisers now have access to Magellan’s range of credit repair mortgage products which aim to help residential borrowers who have suffered one-off life events such as redundancy, divorce or long-term illness - which subsequently led to financial difficulties - get back on the housing ladder.

Magellan Homeloans was launched in the summer of 2013 and is aimed at those former adverse-credit borrowers who now have their finances back under control and can demonstrate they have not incurred any further adverse credit during the last 12 months.

Magellan will consider borrowers who have had some of the following types of adverse credit in their past: five CCJs of any value, defaults or arrears, bankruptcy, IVAs, debt management plans and debt relief orders. The lender will also consider self-employed borrowers with just one years’ worth of trading records.

Earlier this year Magellan cut its product rates by up to 3.1% and revamped its entire product range – rates on this new range of products now start at 5.42%.

Richard Adams, Managing Director of Stonebridge Group, commented:

“We have been championing the introduction of Magellan Homeloans into the residential mortgage market for some time as it gives those borrowers who have suffered adverse credit difficulties in the past a chance to secure a  mortgage and begin the process of returning them to the mainstream market. Many individuals, through no fault of their own, have suffered one-off life events such as unemployment or divorce which have often had a devastating effect on their finances. Magellan caters for those borrowers who have been adverse-credit free for over 12 months as well as providing options to those such as the newly self-employed who have taken the opportunity to set up their own business in the last couple of years. To my mind, lenders such as Magellan are vital to re-establishing a ‘normal’ mortgage marketplace which allows those who have been in financial difficulty to secure finance and move back to mainstream status. I am confident that Stonebridge advisers will embrace this opportunity and we will be able to help many such borrowers. We are all looking forward to working with the Magellan team and are delighted to have been added to the distribution panel.”

Mark Snape, Managing Director Lending at Magellan Homeloans, said:

“We’re delighted that we’ll be working with Stonebridge to make our unique credit repair products available to their advisers. As the mortgage market continues down the road to recovery, it’s important that borrowers who may have encountered difficulties in the past, but have since demonstrated their ability to manage their finances responsibly, are given a chance to get back on the housing ladder once again. From our discussions with Stonebridge it is clear that the newly formed relationship offers exciting opportunities for both parties to grow their respective businesses. I am looking forward to working with Richard and his team.”

To find out more about the Stonebridge Group or if brokers are interested in joining call 01702 562220 or for further information visit www.stonebridgegroup.co.uk

For further information on Magellan Homeloans please visit www.magellanhomeloans.co.uk

ENDS

For further information please contact

Richard Adams, Managing Director at Stonebridge Group – 07710 076078; radams@stonebridgegroup.co.uk

Paul Nye, Business Development Director at Stonebridge Group - 07733 364137; pnye@stonebridgegroup.co.uk

Rob Griffiths, Director at White Dragon Communications – 07983 641566; rob@whitedragoncomms.co.uk

Notes to editors

Stonebridge Group was launched in 1988 as an independent brokerage which subsequently evolved by building on an infrastructure and sustainable business model to enhance the activities of broker partners.

Technology plays a large part in the Stonebridge Group proposition and its bespoke in-house system helps deliver effective customer management and enhanced service delivery as well as helping advisers maximise growth and business efficiency.

After a number of years growing its adviser numbers Stonebridge Group changed its FSA permissions to become authorised as a network. The network completed full authorisation of its 60 new members in November 2010. Based in Southend, Stonebridge offers ARs a range of services and support options.

Stonebridge Group supports individual needs and ambitions, and works closely with advisers to achieve them. Its’ success has been built around a flexible proposition, giving real sales development and support to ensure all regulatory requirements are met.

Key benefits include:

Commission Rates/Lender Fees
Stonebridge achieves some of the highest levels available. Payment is made weekly direct to adviser’s accounts.

Strategic Planning
Planning is at the heart of a successful business. Our Development Director will work closely with ARs and provide support to achieve their goals.

Introducer and adviser recruitment
We will help identify and recruit new introducer sources and advisers whilst providing the necessary training to ensure success.

Client Bank Management
This often represents a great but underutilised opportunity. We can help ARs with setting up a database, effective client contact and marketing and how to utilise call centres.

Sales and Compliance Management
Our regional management team work closely with advisers to help increase sales and provide all the regulatory guidance needed.

Marketing and Advertising Support
Used effectively this can substantially increase any firm’s business profile. We can provide support with advice on marketing strategies, provide marketing material for firms to adapt to their own style and website integration.

Client Management System
Our market-leading administration and client management system provides ‘Real time’ updates to clients, advisers and introducers. A database for client reviews and targeted mailing.

Point of Sale Systems
Our systems enable advisers to source the mortgage market, provide illustrations of mortgage costs and associated protection. In addition it will produce regulatory documents to support this advice process.

Financial Planning
Clients often have a need for a complete review of their financial situation that assists them in planning for their life goals. Stonebridge Group can help by delivering training and identifying areas of need. It can also provide access to a financial planning expert or help to identify and recruit a financial planning consultant for a business, plus it can provide assistance with marketing material and development support.

Stonebridge Group
Stonebridge House
Main Road

Hawkwell
Hockley
Essex
SS5 4JH