The subprime UK mortgage market is growing fast, as the base of participating lenders increases. Securitization has played an important role for U.K.-based non-standard lenders; for many it's become their preferred access to capital.

According to figures from Royal Bank of Scotland, subprime issuance has grown to GBP9.5 billion for the seven major issues since the public market's inception in 1996. These include Kensington Mortgage Company, Igroup, G-MAC-RFC, Platform Home Loans, Mortgages PLC, Preferred Mortgages and Southern Pacific.

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