As a result, members of the packager association PMPA now have access to four ADV non-conforming product categories.
ADV:100 and ADV:200 products are now priced 10 bps lower than the standard ADV range as part of the exclusive, with an additional procuration fee payable to allow for incentives across the four exclusive product categories.
Loan amounts are limited to a maximum £500,000 on loans of up to 75 per cent LTV and £350,000 for loans up to 80 per cent LTV. A choice of two- and three-year fixed rates are available, starting from 7.19 per cent offering variable completion fee options.
Helen Hymos, lender relationship manager at PMPA, said: “PMPA is privileged to be able to offer at this critical time in our market place, non-conforming choices of two and three year fixed rates from Advantage that undercut their core ranges.
"PMPA is delighted with the commitment that Advantage has made to the PMPA members and that they recognise the quality distribution that we deliver to our lender partners.
"Not only can we offer reduced rates on these products, but also our members will be offering further incentives and brokers should view our website for the full list of PMPA member firms.”
Jeremy Duncombe, director of sales at Advantage, added: “Advantage understands the pressures faced by packagers particularly in the current, turbulent market climate. However we continue to support packagers and this second exclusive deal with PMPA re-affirms our dedication to them.”
