More than half of all customers who took out a mortgage with sub-prime lender Start Mortgages in 2005 have since moved their mortgage to a mainstream lender, according to new statistics released by Start.
About 43 per cent of customers who took out mortgages with Start in 2006 have also moved to a mainstream lender. The study indicates that a large volume of so-called ‘specialist mortgage’ customers return to traditional lenders within three to four years.
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