All customer or borrower enquiries should continue to be made to Advantage's customer service department as follows:
By telephone on 0844 892 1094 for Advantage first charge borrowers or on 0844 800 8431 for ADV2 secured loan borrowers.
By post to 1 Providence Place, Skipton, North Yorkshire BD23 2HL
By DX to DX21761 Skipton
Any other business enquiries related to Advantage should be made to advantagequestions@morganstanley.com
The following 'Question and Answers' may address some of the queries your customers may have:
Q. Who is going to administer my mortgage now that Advantage has ceased trading?
A. The arrangements for administration of your mortgage have not changed. Morgan Stanley Bank International Limited trading as Advantage will continue to administer your mortgage and if you have any queries, please contact us on the usual telephone numbers.
Q. What happens if I want a further advance?
A. As Advantage is no longer accepting new mortgage applications, this also means that it will not be accepting any new further advance applications. If you need to borrow more money and you cannot borrow from another source, this decision means that you will need to move your mortgage away from Advantage. In other words, you will need to borrow sufficient funds from another mortgage lender to repay your Advantage mortgage and also cover your additional borrowing requirements.
Q. What happens if I want to move home and my existing mortgage gives me the right to ‘port’ my existing product terms to the new mortgage?
A. This would involve a new mortgage application to Advantage. Although Advantage is no longer accepting new mortgage applications, it would, subject to you meeting its normal lending criteria, honour your right to ‘port’ so that you would not have to move your mortgage away from Advantage.