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The Days Of Affordable Lending For Sub-prime Clients Could Be Over

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Advantage adjusts mortgage range in light of credit crunch

Advantage has revealed a dramatic raft of rate and criteria changes across its sub-prime, buy-to-let and self-cert ranges as the credit crunch continues to ravage through the mortgage industry...

The Morgan Stanley lender says it is committed to the market in the longer term but is taking a prudent approach in the short term.

In changes that will come into effect on September 19, Advantage is increasing its rates by an average of 0.5% on its sub-prime, buy-to-let and self-cert ranges. The sub-prime ADV near-prime plus product now starts from 5.84%.


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