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61% of brokers say sub-prime will prosper

  • 08/05/2002
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Mortgage brokers are expect-ing the sub-prime market to flourish over the next five years A sub-p...

Mortgage brokers are expect-ing the sub-prime market to flourish over the next five years

A sub-prime mortgage report commissioned by specialist mortgage group, Preferred Mortgages has shown 61% of IFAs and brokers predict an increase in the market.

Simon Biddle, marketing communications manager at Preferred Mortgages, said: ‘The sub-prime market should be pleased with these findings as there is no doubt IFAs and mortgage brokers perceive sub-prime mortgage lenders as positive viable alternatives.’

In addition, the research showed 57% of participants believe traditional lenders are too cautious with their lending criteria.

However, Biddle added: ‘The predicted growth of our business is not just influenced by what the traditional lenders do. Only 35% of IFAs and brokers believe the tightening of lending criteria will help drive the sub-prime market, confirming our market has growth potential in its own right.’


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Correspondent lending might still be in its infancy in the UK but the scope for growth is definitely out there