Credit given to borrowers with a less-than-perfect credit history such as bankruptcy, County Court Judgements (CCJ) etc. As a result of the higher risk, subprime products charge a higher rate of interest.
Franky on Finance
Franky on Finance- Repossessions to soar by a quarter
- Nationwide increases minimum deposit to 10%
- Franky on Finance has moved
- Internet ban for just 3 illegal downloads
- Gas guzzlers are hit with £25 C-charge
- Savers should beware as rates fall
- Mortgage lenders rush to cut rates
- Bank cuts interest rates to 5.25%
- I got carried away, says SocGen’s rogue trader
- Newcomer Kaupthing offers 6.5% to online savers
