The sub-prime mortgage market has all but vanished as lenders become risk averse, figures showed yesterday. There is now only one provider, Platform – with products that are widely available to people with impaired credit histories, and it offers just eight different products, representing a steep decline from the 1,599 mortgages on offer across all providers a year ago, says Moneyfacts.

The number of sub-prime loans widely available has dived from 204 to eight in the past week alone.

Financial Times