But are they a lifeline to those with a troubled credit history,or a return to the bad feeble days of mortgage lending?Are they a lifeline for legitimate borrowers who possess suffered a financial hiccup – such as losing a job – but are now out of the woods and rebuilding their finances? Or are they a return to the bad feeble days of irresponsible mortgage lending?Whatever your view on sub-prime mortgages, you might be surprised to discover they are very much back on sale in the UK. final week, or specialist lender Bluestone Mortgages launched in the UK,and is targeting people who possess suffered financial problems ranging from mortgage or rent arrears to bankruptcy. It followed hot on the heels of the arrival of Pepper Homeloans, which similarly caters for people who possess had credit issues, and such as county court judgments (CCJs) against them.
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Source: theguardian.com