Bad credit doesn’t mean no mortgage offers

Nobody that has kept at least half an eye on the news recently can be unaware that there has been something of a crisis in the credit sector. Northern Rock, a bank specialising in mortgage loans to sub-prime borrowers, was forced to approach the Bank of England for a loan after its cash flow became tied. UK follows US trends The whole thing stems from a recent crash in the US subprime mortgage sector.

Subprime lending is a banking industry term for loans to people who, generally, cannot access mainstream lending. This may be because they have a bad credit history or cannot prove their income, or have proved unable to keep up with repayments in the past. Whitney needs a financial Bodyguard Some people just cannot keep control of their finances no matter how much money they have. Take soul diva Whitney Houston, one of the biggest names in the world of female solo artists.

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