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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.

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