UK mortgage standards safer than U.S. but slipping

UK mortgage standards safer than U.S. but slipping


July 17 (Reuters) - UK lenders have been more conservative so far than their U.S. counterparts in providing mortgages to those with less than perfect credit histories, though standards are on the slide.


Both Citigroup and S&P estimate the UK's outstanding "nonconforming" mortgage bonds -- a broader definition that includes borrowers with poor credit histories and those who do not meet lending criteria for other reasons -- at about $70 billion, compared with $565 billion of U.S. subprime bonds. More...