It has ceased accepting all new packaging business on behalf of other lenders. It will now concentrate on developing its own set of products, which currently includes the non-conforming product range ADV funded by Morgan Stanley and Flexishare, a shared appreciation mortgage solution designed to help solve the crisis facing first-time buyers, key workers and growing families in the UK.
Being part of Morgan Stanley gives Advantage the resources and expertise to create products that meet the changing needs of mortgage intermediaries and their clients. The company has invested heavily in technology and has developed a state of the art decisioning system called e:lect. This is available to mortgage brokers, intermediaries and networks at www.adv-elect.co.uk.
Keith Dearling, managing director of Advantage, said: “Today is a landmark day for Advantage. Everyone has worked hard to get to this stage and it is a very exciting time as we look to grow the business. So far, 23 networks and mortgage clubs have put Advantage on their lender panels – a fantastic achievement in such a small space of time.
“We will now concentrate on developing our lender proposition and will look to make constant improvements to our product range and significant enhancements to www.adv-elect.co.uk. We will also be expanding our offer to partner with key packagers in the next few months.”
