Cover Story


PRIME TIME FOR NEAR PRIME


Precise Mortgages has a range of mortgage products available that are specifi cally designed for borrowers who may have suffered throughout the recession


Whilst there are no offi cial stats available to size the near prime market it’s possible to make an educated guess based on the available information as well as several assumptions. What we do know is that total UK personal debt stood at £1.45 trillion at the end of 2010. Approximately £1.24 trillion is secured on residential property with the remaining £212 billion on consumer credit such as credit cards, personal loans and overdrafts. Statistics from the Council of Mortgage Lenders show that there are 11.36 million mortgages outstanding. The British Bankers’ Association reckons that there are nearly as many credit cards as there are people in the UK; that’s a staggering


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