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Citizen's Advice: End sub-prime borrower mistreatment
Brokers and lenders are too eager to grant unsuitable mortgages to sub-prime borrowers incapable of keeping up repayments, a new report by Citizen's Advice has warned.The study found that many with poor credit histories had been recommended inapt products by their brokers, as well as that many lenders and brokers had failed to carry out adequate checks to see if customers could afford the mortgages they were sold. Yet contrastingly, sub-prime sector lenders were also found to be less willing to negotiate with borrowers in arrears than their mainstream counterparts, with the result that they account for an amount of possession orders disproportionate to their market share.



