UK Banks Relax Mortage Rules

Self-employed and people in the UK with a bad credit history are finding it easier to obtain a mortgage, according to the independent market Datamonitor. Their research published this summer shows that the number of people who had previously been considered as being too high a risk to be able to borrow money for a home, are now being offered mortages. Datamonitor suggest that the lending banks have eased their rules because the mainstream market is saturated. In fact last year the rate of growth of lending to people who were previously considered too high a risk, was double that of "mainstream" UK mortgage lending. Although on average 9 million adults a year are refused mortgages because they have too low a credit score, an estimated