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Advantage enters second charge
19 June, 2007
Advantage and Enterprise Finance have launched entered the secured loans market with ADV2.
ADV2 gives Enterprise unique access and distribution rights to the ADV2 product range and its market-defining schemes. Second charge schemes on offer include a 95 per cent loan to value self certification product up to a maximum advance of £500,000, and an 85 per cent self certification and unlimited adverse product up to a maximum of £150,000.
Donny Moeladi, commercial director of ADV2, said: "We are extremely excited about the launch of ADV2 as we believe that the Seconds market is ready for innovation in product design and we plan to lead from the front. Working with Enterprise was an obvious choice for us, with their professional and dynamic management team and unequalled broker distribution capability. We look forward to an excellent launch campaign and significant high quality volumes from our relationship."
Danny Waters, operations director at Enterprise Finance, said: "This is an excellent opportunity for us to work closely with a forward thinking lender and help influence product design and operational processes. The ADV2 range adds tremendous value to brokers and their clients, and we expect it to be in very high demand. With four on-site ADV2 underwriters at our offices, we will also be making the ADV2 range available through selected master brokers".