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United Kingdom
2013 (13 Years)
Last online: No recent activity
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This company is currently Unproved.
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License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know magellan homeloans
Company Information
Get to know magellan homeloans
Magellan Homeloans Limited was a UK-based mortgage lender that specialised in providing residential mortgages to individuals who were often underserved by mainstream banks and building societies. The company focused on borrowers with complex income structures or impaired credit records, employing a manual underwriting process to assess each case individually. Founded in 2013, it aimed to offer a second chance to those who had experienced financial difficulties. In October 2019, Magellan Homeloans announced its withdrawal from the UK mortgage market and ceased accepting new applications to focus on servicing its existing book of mortgage customers.
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