Friday, November 27, 2009
High rates and you need a 35% deposit
New deal for "near-prime" borrowers
"One of the biggest "sub-prime" lenders returns after two years with deal aimed at the customers with a less than perfect credit history. Kensingston, one of the largest supplier of home loans to borrowers with poor credit histories before the credit crunch, returned to the market today with a new deal. The move has sparked fresh hope of a recovery in the mortgage market".
Posted by alan @ 07:55 AM (987 views)
2 thoughts on “High rates and you need a 35% deposit”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
paul says:
“near prime”??!
Let’s all rename something problematic in the hope that it makes the issue go away.
Steve says:
“Near prime” made me laugh.
35% deposit = not very much risk at all.
default -> lose house, bank get their money back + hefty fees no doubt.
I earn 100k but have next to nothing in savings having just had an acrimonious divorce. The absence of a deposit means that, notwithstanding the good credit rating, I am a risk.
housing downturn + unemployment -> default
35% deposit is a prime borrower notwithstanding ability to pay.