Borrowers can receive a rate reduction of 0.20% on Advantage’s standard ADV two-year discount range. The exclusive deal with the PMPA covers most of the non-conforming products within Advantage’s range, including: Near Prime Plus; Near Prime; Ultra Light; Light; Medium. Advantage’s ADV Non-Conforming Product range is based on affordability, not fixed income multiples.
Jeremy Duncombe, business development director, Advantage said: “The PMPA shares Advantage’s vision for innovative mortgage products backed up by excellent service for specialist intermediaries. It is also a highly respected industry body. We are therefore delighted to be able to extend PMPA’s offering with a new ADV exclusive product. This product demonstrates our ongoing support for packagers and packager associations.”
Helen Hymos, PMPA’s lender relationship manager, said: “Non-conforming business accounts for a large proportion of many members’ turnover, so we are very pleased that Advantage has made this highly competitive rate reduction exclusively available via PMPA members. We are confident that the Advantage exclusive will give members the opportunity to attract incremental broker business, and we hope that PMPA’s partnership with Advantage will continue to offer mutual benefits well into the future.”
