12 million Britons have a poor credit rating!

Subprime lending is back in the headlines for the first time since the financial crash of 2008/9. Finance for people with bad credit histories – particularly for mortgages and cars – is rising at a faster rate than at any time since the mid 2000s. A survey carried out by price-comparison website Moneyfacts.co.uk has confirmed that there is an increasing number of loans to people with impaired credit records. The research found that the number of products offering mortgages or secured loans to people with bad credit has more than doubled to over 260 compared with 110 a year earlier. There are more than 12 million people in the UK whose poor record with borrowing mean that they cannot get loans from the banks or other mainstream financial organisations. Marketwise predicts that this figure would rise to 15 million people if Britain goes into a severe recession. The so-called sub-prime finance industry boomed in the run up to the financial crisis. But after the crisis and in the fac
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