Although it intends to relaunch back into the scheme in the New Year, the company has taken the decision to remove its products for the remainder of 2007. As well as the HomeBuy products, the company has also withdrawn its Flexishare products.
Keith Dearling, managing director, Advantage, said: “Advantage remains committed to responsible lending with a prudent approach, and is fully dedicated to the Flexishare concept and government HomeBuy initiative which both help borrowers gain additional purchasing power.
“In light of the exceptional current market conditions, Advantage is withdrawing its Flexishare Home Ownership Plan and Government HomeBuy Home Ownership Plan products in the short term, whilst it reviews both products and makes a further detailed assessment of the market.
“Advantage seeks to ensure brokers and packagers are kept fully informed of any changes, and remains committed to providing them with innovative, flexible products that help their prime and non-conforming borrowers gain a foothold on the housing ladder.”
