Simon Read, its managing director, attributed some of this to Magellan’s updated buy-to-let calculator.
The number of visitors to Magellan Homeloan’s website increased by 55% between October and February, with February being the second record month in a row for visits for the specialist lender.
Simon Read, its managing director, attributed some of this to Magellan’s updated buy-to-let calculator.
He said: “We’ve had an extremely busy few months launching our unique online buy-to-let calculator; cutting rates on our residential mortgages and launching our new range of prime mortgages plus most recently, developing the functionality of our residential affordability calculator to the same level as the buy-to-let calculator.
“Whilst we would expect new products and changes to drive interest, we’ve been delighted at the level of increase in visitors and specifically to our online calculators.
“We know from broker’s feedback and seeing over 40 per cent increase in use, that our simplified calculators make it easier for brokers to do business with us.
“Extending this functionality to our Residential model was a natural next-step and since its introduction, we are already seeing a huge uptake in brokers using it. In fact, it’s already become the most visited page on our website.”
