Sub Prime lenders

Roy5085

typos maybe, i think you made quite a few

nadnad

so 25 and 28 - thats a typo? they're quite a distance apart you know those two keys - makes ya wonder thats all I'm sayin........

Roy5085

Who knows then. Futile discussion topic anyway.

nadnad

Roy5085 wrote:

Who knows then. Futile discussion topic anyway.

thats right. :beer:

Roy5085

The good thing nadnad is that your three years younger now than your were a few moments ago.

nadnad

no i'm actually a few moments older.

Roy5085

Then we are more surprised of your achievements you mentioned in such a short life. Not that much older than Emma are you?

tomstickland

What a thread. I've read most of it.
My feeling is that Emma is passionately concerned about the problem of sub prime lenders selling the loans onto glorified debt collection agencies.

The long posts don't help.

In principle, there's nothing wrong with selling a debt on. However, I can see that in the extremity it encourages pushy sales onto people who might not be as savvy as they need to be, and as a result end up in financial misery.

A few things:

Not many people understand the difference between prime lenders and sub prime lenders.

Seems obvious - prime will lend to low risk customers, sup prime lend at worse rates to higher risk cases.

It does amaze us why the prime market allows this growing sub prime market to prosper and there are new entrants coming on board in this industry all the time. A sign of the times. It is a growth market and prime lenders do not want the high-risk profile borrowers on the books for obvious reasons.

Prime market want the safe business and prefer someone else to take the more risky business.

From http://www.townandabout.com/cgi-bin/Yabb2/YaBB.pl?num=1144830622

The telephone numbers provided on the letterheads are free 0870 numbers

0870 numbers are not free. They are another money making scam. Check https://www.saynoto0870.com

Not wanting to be guilty of long, rambling posts or anything. Oops.
Reading on the Kensington website

Kensington Mortgages is a market leading provider of mortgages in the non-conforming sector. We are widely recognised throughout the industry for our innovative products, competitive pricing and quality of service.
.....
In order to grow quickly and efficiently, we outsourced many of our business functions to third party service providers. This helped us to achieve economies of scale, access leading edge mortgage administration capability, deliver a variable cost infrastructure and demonstrate the operational qualities of a developed organisation.

We simultaneously recruited personnel with significant mortgage industry experience to manage, monitor and supervise those service providers, enabling us to retain ultimate control of our operations.

They're pretty clear about it.

Kensington seem to offer some pretty reasonable deals. For example a 3 year fix from 5.44%. "from" though.


Redstone are more interesting.
http://www.wragge.com/industryexpertise/default_10499.html

Clark Sargent said: “Redstone is a significant new client for the team. For a company like Redstone, where mortgages are securitised, the commercial imperative is to ensure that they maintain performing assets for the investors. We have considerable experience in this area and know that it is important to add value by providing a consistently high quality service and processing claims quickly and efficiently.”

Roy5085

Hi Tomstrickland, I think you have it. The Treasury are also concerned, as are Shelter, CAB and now the London Mayor to name a few on how this growth market is developing and evolving.

nadnad

Roy5085 wrote:

Then we are more surprised of your achievements you mentioned in such a short life. Not that much older than Emma are you?

why are you "surprised"? i haven't done that much, oh I see sarcasm. ok then.