Sub-prime mortgage packager, Advantage Mortgage Services (AMS), has signed an exclusive deal with intermediary firm, First Advice, to provide sub-prime deals for its clients.
Paul Rogerson, marketing director at First Advice, said: ‘We believe AMS will help us to deliver the right products to our clients. We want to deliver an end-to-end solution for borrowers who fit prime or sub-prime lending criteria. We will work with AMS on the processing and packaging side to ensure clients will always get a suitable deal.’
First Advice is planning to open 150 offices in the next three years and will be looking to recruit over 600 financial advisers in the process.
The deal means any client who requires a sub-prime mortgage will go through one of the lenders on AMS’s panel. A recent audit found AMS has an application to offer a ratio of 96%, one of the highest in the market.
Keith Dearling, marketing director at AMS, said: ‘AMS is more than a mortgage packager. With the expertise we have gained from dealing direct in the sub-prime sector, it has enabled us to offer a more bespoke service to traditional mortgage intermediaries.
‘We are able to help brokers either develop a sub-prime culture or provide marketing ideas and assistance to help them increase their sub-prime business levels.’