Magellan Homeloans
Specialist LenderMagellan Homeloans is a niche specialist lender focused exclusively on serving foreign nationals and British expats seeking UK property mortgages. They understand the unique challenges of cross-border lending and offer tailored products that mainstream lenders cannot provide.
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About Magellan Homeloans
Magellan Homeloans is a niche specialist lender focused exclusively on foreign nationals and British expats seeking UK property mortgages. The lender understands the unique challenges of cross-border lending, including overseas income assessment, currency considerations, and residency requirements. Magellan offers products that mainstream UK lenders typically cannot provide.
Magellan serves UK expats living abroad who wish to purchase or remortgage property in the UK, as well as foreign nationals seeking UK property. The lender has developed criteria for assessing overseas income and employment. Magellan considers a wide range of countries and employment structures.
Magellan Homeloans is broker-only and works with intermediaries who specialise in expat and foreign national lending. The lender has built a reputation for understanding the complexities of cross-border mortgage applications. Magellan is regulated by the FCA.
Lending Focus
Magellan Homeloans offers mortgage products across 3 categories including Residential, Expat, Foreign National.
Key Features
- Specialist foreign national mortgage products
- British expat lending for UK property purchases
- Multi-currency income assessment capabilities
- Understanding of international tax and regulatory requirements
- Tailored solutions for cross-border lending complexities
Pros & Cons
Pros
- One of very few UK lenders serving foreign nationals and expats
- Multi-currency income assessment capabilities
- Deep understanding of international tax and regulatory issues
- Tailored solutions for complex cross-border situations
Cons
- –Broker-only — cannot apply direct
- –Maximum 75% LTV is lower than mainstream lenders
- –Higher rates and fees due to niche, complex lending
Fees & Charges
- Arrangement Fee
- Typically 1–1.5% of loan amount
- Valuation Fee
- Based on property value — usually £300–£1,500
- Early Repayment Charge
- Typically 3–5% during fixed-rate period
- Overpayment Allowance
- Varies by product — check individual terms
Mortgage Rates
Rate data coming soon. View rates on Magellan Homeloans
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 4–8 weeks due to international documentation
- Online DIP
- No — via broker or branch
- Offer Valid For
- 3 months
Lending Criteria
- Maximum LTV
- 75%
Frequently Asked Questions
Can a foreign national get a UK mortgage through Magellan?
Does Magellan Homeloans lend to British expats?
What is the maximum LTV at Magellan Homeloans?
How to Apply
Broker only. Magellan Homeloans products are available through mortgage brokers. Find a broker with Magellan Homeloans on their panel.
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Important: Your home may be repossessed if you do not keep up repayments on your mortgage. Information on this page is for general guidance only and does not constitute financial advice. Always verify lender details directly and seek independent advice before making financial decisions.