Group chairman Andrew Turner said Turnkey had been receiving a growing number of applications from borrowers who have had difficulty keeping on top of their credit commitments in the past.

Turner said Magellan’s ‘unique proposition’ was a welcome addition to its product line-up.

Borrowers must be able prove the reason for their adverse credit and and cannot have incurred any debt problems in the last 12 months.

Jon Sturgess, head of sales at Magellan Homeloans, said: “We’re delighted to be working with the team at TurnKey Mortgages to provide their clients with an effective and competitively priced credit repair solution.”