UK mortgage lenders are offering loans to “almost prime” and “complex prime” borrowers with “minor historic credit issues” who may have experienced financial “blips.” They don’t use the word subprime. Three years after defaults on US subprime mortgages sparked the worst financial crisis in almost 80 years, General Electric’s GE Money unit and Investec’s Kensington division are once again lending to British customers rejected by mainstream banks. This time, they say they’re offering less money to clients with better credit histories.
