Advantage, the specialist lending subsidiary of Morgan Stanley, has today announced a series of changes across its mortgage range.
Advantage says it has made changes to its ADV, buy-to-let and self-certification ranges as it does not wish to be seen as a lender of last resort in a perceived high-risk sector. The ADV non-conforming ranges has seen a number of changes including the removal of ADV:600 and ADV:700, which are seen as very high-risk areas. For ADV:500 products, LTV is now 75% and CCJs are limited to four. ADV:400 and 300 have seen LTVs reduced to 75% for self-cert and to 80% and 85% respectively for verified customers. ADV: 200 has an LTV limit of 85% for self-cert borrowers, while AVD:100 remains unchan...
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