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A prime, mainstream or standard mortgage is one for which a borrower would need to have a good credit rating and certain circumstances to be eligible.
If you are in regular employment and have always repaid your debts on time – for example, personal loan or credit card payments – and do not have any county court judgments against your name then you should be eligible for a ***prime rate mortgage*** and have access to the best mortgage deals on the market.
If you have a poor credit history due to defaulting on loan or credit card payments or even just paying a phone or utility bill late, then you will be classified as a “sub-prime” borrower.
Discussion
www.mortgagesorter.co.uk/prime_mortgages.html
pri.=prime mortgages/loans (used in the States)
Prime and Sub Prime Mortgages
A prime, mainstream or standard mortgage is one for which a borrower would need to have a good credit rating and certain circumstances to be eligible.
If you are in regular employment and have always repaid your debts on time – for example, personal loan or credit card payments – and do not have any county court judgments against your name then you should be eligible for a ***prime rate mortgage*** and have access to the best mortgage deals on the market.
If you have a poor credit history due to defaulting on loan or credit card payments or even just paying a phone or utility bill late, then you will be classified as a “sub-prime” borrower.
On a lighter note, είναι όταν πας την πρώτη φορά για δάνειο και σου λέει "πριτς" η τράπεζα;;;!!!
http://books.google.gr/books?id=HW1GAQAAIAAJ&pg=PA456&lpg=PA...