Full Year Results 

S&U tweaks underwriting standards

S&U tweaks underwriting standards

Pressure on real income has led some S&U (SUS) customers to take out loans elsewhere to maintain standards of living, says chief executive Anthony Coombs. That led to a rise in impairments equivalent to 24.6 per cent of revenue, from 20 per cent the previous year. In response, the motor finance group has tweaked its affordability standards, resulting in a slight reduction in the proportion of applicants accepted for loans from 30 per cent to between 25 and 27 per cent.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now