Saturday, October 27, 2007

Adverse Credit Boom Prompts Questions

Over the last year, there?s been a flurry of product launches, as lenders pile into this nascent market. Some of the new entrants in 2005 included the Bristol & West, Victoria Mortgages and Beacon Homeloans, while investment banks Deutsche Bank and Morgan Stanley are in the process of setting out their stalls. And the trend looks set to continue during 2006; with personal debt now topping the ?1 trillion mark, it would seem that there?s room for the adverse market to grow and for more lenders to take advantage of the increased profit margins of this sector.
Many mortgage brokers have tales to tell about the bad old days of the adverse sector, when clients with impaired credit history had to pay through the nose to secure a mortgage. Today, this flourishing se View the rest of this article

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