Morgan Stanley buys Advantage Home Loans after months of speculation as to its entry into the UK market.
Advantage will retain its brand identity and existing lender relationships. The company will continue to be an aggregator and branded mortgage arranger for its existing panel lenders.
Advantage plans to add a new range of specialist mortgage products funded by Morgan Stanley to complement its existing range next year.
Advantage founding partner Keith Dearling says: “This acquisition will enable us to further strengthen our position and continue to provide to networks and brokers. We are proud of what the team at Advantage has achieved over the last 15 years and feel this acquisition will enable us to further build on this success.
Morgan Stanley managing director Ellen Brunsberg says: “We feel there is strong potential in the UK non-conforming market. Acquiring Advantage Home Loans gives us the opportunity to work with a well established distribution platform and provides us with a strong foothold in the market.