Future Mortgages curbs loans to 90%

The news follows the resignation of Citigroup’s chief executive, Charles Prince, at the beginning of this week after the group suffered heavy losses from bad sub-prime debt. Future Mortgages says it has received intense demand for its products, partly due to a new product range and online decision technology, but also as a result of other sub-prime lenders withdrawing their product ranges, driving customers to the few lenders still offering risky loans. Future says many of the cases it has received since July have been for higher LTV loans and says restricting its maximum LTV is the prude...