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Advantage Mortgage ceases trading

Advantage mortgage have stopped taking any new applications for mortgages and will cease trading as of this week. The brand which is owned by parent company Morgan Stanley had decided not to honour any new business and stopped taking new applications from 5:30pm on the 13th. This news comes after increased speculation that many other lenders will be following suit. many lenders have reduced their product rand significantly and Advantage had done just that last year when they removed many of their products. They had stated they would be back this year however and this news is a shock to those in and around the industry. Those customers who were looking at taking an advantage product are now being advise to seek independent advice from an impartial mortgage expert in order to find which deal may be the best for them. 13 February 08

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