View more on these topics

Morgan Stanley buys Advantage Home Loans

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.

Recommended

Tell clients the full story on flexibility

Developments in the equity release market in 2005 offer a fresh perspective for advisers. The biggest development has been the introduction of considerably more flexible drawdown products offering like-for-like interest rates for drawdown and single sums. It is wise to ensure clients get the full picture when considering these plans and to sound a cautionary note.

Skipton networks Pink and Enable merge

Pink Home Loans and Direct Life & Pension Services (Enable) are to combine their two mortgage and insurance networks.Both owned by the Skipton, the aim is to provide enhanced benefits to the membership of both and to create management efficiencies in the running of the groups network services.The combined network will trade under the banner […]

AMI appoints Vanessa Moore as policy officer

The Association of Mortgage Intermediaries has today appointed Vanessa Moore to the post of policy officer. Moore has a comprehensive knowledge of the regulatory structure facing mortgage intermediaries, having held compliance roles in several financial services intermediary firms covering the full range of mortgage, insurance and investment markets.Moores appointment is the first time AMI has […]

CML welcomes measures to increase housing supply

The Council of Mortgage Lenders has welcomed the government’s announcement of measures to increase housing supply. The CML has confirmed that privately-financed equity loans will be available from next year to potentially double the number of aspiring first-time buyers who could be helped through Open Market HomeBuy.The government already planned to offer more than 20,000 […]

Newsletter

News and expert analysis straight to your inbox

Sign up