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Morgan Stanley rumoured to be looking to buy Advantage

US giant Morgan Stanley is rumoured to be looking to buy Advantage Home Loans in a deal to be announced this December.

One source tells Mortgage Strategy that Advantage is looking to be bought by Morgan Stanley, or possibly another lender.

Keith Dearling, founding partner at Advantage, will not comment on the Morgan Stanley rumour but says exciting times are ahead for the company.

He says: “As a company we have a lot happening in the next couple of months, which will be exciting for us as a company and the industry.”

A number of underwriters at Advantage have recently been replaced by processors, which has also prompted industry speculation that it might be a lender who is looking to buy Advantage.

However, Dearling says: “We have recently replaced a lot of our underwriters, but this is because of the way that we are processing our mortgage applications with people like GMAC-RFC and Platform, where we use online decisions.

“More of our cases are done online with less of a need for heavy labour from underwriters.”


It’s time for the FSA to look into lenders’ service levels

Name and address supplied I’d like to tell readers about the poor service I recently received from Northern Rock (all within 24 hours). A Together DIP was carried out for my clients and sent for referral for increased income multiples. I received a call confirming the loan had been agreed and that my clients could […]

English rental yields fall

Quarterly rental yield figures released by Landlord Mortgages show yields in England fell to 5.87% in Q3 2005 from 5.97% in Q2 – the lowest level in three years. London also saw a drop from 5.99% in Q2 to 5.82% in Q3. But north of the border, Scotland bucked the trend and recorded a small […]

Home alone

It is estimated that by 2021, over 35% of all households will be people living alone. Single-person households now account for 29% of all homes, up from 18% in 1971, and this trend is expected to continue.But contrary to the stereotype of lonely old spinsters and playboy bachelors, 96% of those polled in a survey […]

Abacus announces free valuations on adverse products

Abacus Permanent has announced that for a limited period it will offer free valuations across its entire adverse product range. The offer will run until December 31 and will be available on a range of products including the Abacus Future 100% with 5.08% two-year London Inter Bank Offered Rate, no overhang and no MIG.The Abacus […]

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Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


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