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Money Partners to announce criteria changes to sub-prime products today

Money Partners has confirmed it will be announcing criteria changes to its sub-prime range of products today.

Head of communications Bob Sturges says it will be making adjustments to its sub-prime range but it near prime and prime range will not be affected.

Sturges says it will be reducing maximum loan to values on some of its heavier sub-prime products but he would not go into detail until an alert had been sent out to brokers.

He says: “We will continue to be a full-offer lender. We’re not pulling any business or shutting down.”

This follows a previous rate rise in its Origin range of products which saw sub-prime products increase by 0.75 per cent.

Money Partners will be issuing a bulletin to brokers today.

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