As exclusively revealed by Mortgage Strategy, Advantage Home Loans has confirmed it is joining Morgan Stanley.
Advantage will retain its brand identity and existing lender relationships. The company will continue to be an aggregator and branded mortgage arranger for its existing panel lenders. It will be business as usual with the day to day management remaining unchanged.
The move will significantly bolster Advantages existing position in the sub-prime mortgage market and position the company for future expansion.
It will also provide Advantage with strong financial backing, enabling the company to make further investments in service, technology and efficiency.
Advantage plans to add a new range of specialist mortgage products funded by Morgan Stanley to complement its existing range next year.
Keith Dearling, founding partner of Advantage Home Loans, says: We are delighted to be joining forces with Morgan Stanley.
“This acquisition will enable us to further strengthen our position as the leading branded mortgage arranger and continue to provide an unrivalled offer to networks and brokers.
“We are proud of what the team at Advantage has achieved over the last 15 years and feel this acquisition will enable us to further build on this success.
Ellen Brunsberg, managing director at Morgan Stanley, says: Advantage Home Loans has an excellent reputation and robust business model.
“We feel there is strong potential in the UK sub-prime market. Acquiring Advantage Home Loans gives us the opportunity to work with a well established distribution platform and provides us with a strong foothold in the market.