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&#39Sub-prime&#39 branded an offensive term

Self-employed mortgage borrowers should not be branded as sub-prime customers because the term is offensive, claims a service for self-employed professionals.

Alodis, which has 45,000 members, claims lenders routinely categorise the self-employed with “criminals and bad debtors” although they often represent a better lending risk.

It says the self-employed should be called non-conforming borrowers and not be subject to the same stringent lending criteria and expensive terms as those in the sub-prime sector.

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