North West-based packager, Advantage Home Loans, has announced a branded lending deal with GMAC RFC.
The branded loans will be sold through Advantage’s branded lender, Advance Home Loans, which launched last year with deals from Mortgages plc and Platform Home Loans.
This deal has been under construction since January and will significantly increase Advance’s product range to the extent it is billing itself as a one-stop-shop for sub-prime mortgage business.
Advantage is currently writing over £18m of sub-prime mortgage business a month and is planning to double capacity over the next three years.
Simon Maudslay, director of Advantage, said: ‘Our goal is to seek a strong brand image in the market and having access to GMAC RFC’s excellent range of products will help us do this.’