The company has been set up by Advantage Mortgage Services (AMS), a North West-based mortgage packaging business. Marketing director Keith Dearling announced: "Advance is a natural progression from the packaging work of AMS. Advance Home Loans plans to lend £60 million in its first year. We provide a unique range of products, good market rates, no MIG and higher commissions under our own brand."
AMS is currently arranging circa-£12 million of sub-prime business per month and is confidently predicting a four-fold increase in business over the next two years. The company is moving to larger offices and recruiting additional staff to cope with growth. AMS hopes to become a one-stop-shop for all its customers’ financial needs.
Advance is working with Platform Home Loans. Commenting on the relationship with AMS, Peter Beaumont, sales director at Platform, said: "We have been working with AMS for the last four years. The quality of their packaging has always been of the highest order with 92 per cent of their applications going immediately to offer."
