I was reading a paragraph from the case attached below and see how Blemain admit that they lend on equity and not the person....still reading this case as it is quite long.....but confirms that it is equity lending:
c. Mr Stewardson, of
Blemain 
Finance, accepted that Blemain at the material time was a sub-prime lender and did lend to persons with financial problems. He confirmed that for Blemain it was the value of the security, not the value of the person, which was important. They accepted self-declaration of income and would lend to a discharged bankrupt, though not (to his knowledge) to any undischarged bankrupt. He was cross-examined about publicity material which clearly suggested Blemain would be willing to lend despite other adverse lending: he said that the material was aimed at brokers and was intended to invite applications. But, he said, Blemain did have and apply their own criteria when considering a specific application, and "we would reject an application in a false name".http://www.bailii.org/cgi-bin/markup...method=boolean
Or emailing it would be better :ranger:
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