UK market dominated by prime mortgages


Prime mortgages continue to be dominant in the UK market despite the many problems caused by sub-prime lending in the US, according to the Intermediary Mortgage Lenders Association (IMLA).

However, non-conforming lending does account for almost a third of all mortgage lending in the UK and intermediaries handle over 90% of all non-conforming business. Overall, prime lending accounted for £255bn of lending in 2007, from a total of £356bn worth of mortgage lending. Buy-to-let mortgages were the second most common form of lending in 2007, with £41bn lent to landlords, a rise of 64% since 2005. Sub-prime and self-cert mortgages saw little movement between 2005 and 2007, according to IMLA, and lost some market share as prime, buy-to-let, equity release and 100% + products all i...

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