Business and Personal Finance Dictionary

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• SUB-PRIME MORTGAGE
  
  Mortgage granted to a person who is unable to borrow money secured on a property from a normal lending source. The reasons the applicant may not be granted a mortgage by a high street lender, could fall into one of three categories: Adverse Credit information registered against them Existing arrears on current mortgage facilities An inability to satisfactorily prove the level of income required by a high street lender.
  
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