Credit crunch to cause 10% fall in sub-prime business

A survey conducted by the Expo also found the market turmoil would lead 60% of advisers to source products from lenders they would not normally deal with. The survey asked brokers how they thought the problems in the sub-prime market would affect their business volumes. The results show 55% of brokers expect to lose more than 10% of their sub-prime business due to repricing of products, while 65% expect changes to lending criteria to cause a 10% drop in sub-prime business. Commenting on the findings, Daniel Nwaokolo, director of the Expo, says: It’s clear from our results that our adviser...