Lending criteria change at Mortgages Plc

The company says it will not withdraw any of its products, as some lenders have done, but is limiting its exposure to ‘higher risk categories of business’ by tightening lending criteria. Ian Whittaker, marketing director of Mortgages Plc, says: "The continued volatility of the global capital markets has led a number of specialist lenders to either tighten their lending criteria or withdraw products from the mortgage market entirely. Mortgages plc continues to be committed to the sub-prime mortgage market and is not withdrawing any products”. The lender has reduce loan to value ratios on t...