A rate reduction of 0.20 per cent on the standard ADV two-year discount range offered by PMPA has been launched. Most of Advantage’s non-conforming range will be available, including near-prime plus, near-prime, ultra light, light, and medium.
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Jeremy Duncombe, business development director at Advantage, said: “The PMPA shares Advantage’s vision for innovative mortgage products backed up by excellent service for specialist brokers. 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.”
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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 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.”
James Cotton, mortgage specialist for London & Country, said: “We use Advantage as it has got a good range of packages and, going via a packager, it should be able to offer reduced fees and better rates. If it is resulting in a cheaper rate and Advantage has better distribution via the PMPA, then everyone will benefit.”
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