The lender said that there is still confusion in differentiating between complex prime and sub-prime lending, which are two completely different markets.
Chris Cummings, marketing director at Sun Bank, said: “Complex prime cases tend to involve people who would be rejected by mainstream mortgage lenders because of factors such as unusual income patterns, self employment or residency issues. These borrowers have an unblemished credit history and so do not want to pay the higher than standard rates of interest charged by sub-prime lenders.”
