Nationwide Considering Bad Credit Mortgages
Britain's biggest building society may offer mortgage to sub-prime customers
22nd May 2006
Nationwide, Britain's biggest building society, is considering widening its range of mortgages to include packages suitable for people with mild to moderate credit problems.
Although it's understood that Nationwide will stop short of offering the kind of bad credit mortgage available from specialist lenders, the mutual is exploring whether it can begin catering fo 'light adverse' customers with a credit history including such entries as county court judgements awarded against them.
Last year, Nationwide's new mortgage lending fell from £10.9bn to £6.3bn, although the society said it had deliberately reduced its lending out of concerns over the housing market.
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