Tighter credit on db sub-prime range

This week, several other lenders have postponed launching new sub-prime product ranges due to difficulties obtaining funds in the current worldwide credit squeeze. Lending criteria has been tightened on db’s sub-prime range, from the Light product through to Extra Heavy. Changes to the range include a withdrawal of the self-cert option and no further lending to first time buyers. The Extra Heavy range has also seen a maximum CCJ limit of 20,000 introduced and will no longer allow unlimited arrears customers; instead, arrears will be limited to 5 in 12. Interest rates on the sub-prime ra...