Wednesday, July 4, 2007
WOW… no subprime here, eh?
"We currently estimate annual lending in this sector to be around £30 billion, or approximately 8% of the market. As the amount of personal debt in the UK continues to grow, particularly in a rising interest rate environment, so will the number of borrowers with poor credit history. There must be the right solutions in place to break what can become a vicious circle of debt." £30bn or 5% subprime.... but we did not have subprime?!