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Kensington says it will not withdraw sub-prime products

Kensington says it will definitely not be withdrawing its sub-prime mortgage products from the market.

This follows news that two Investec-backed lenders, Unity Homeloans and Infinity Mortgages, will withdraw their entire sub-prime mortgage range with immediate effect.

A spokesman for Investec says that it will not comment on either Unity Homeloans or Infinity Mortgages decision to withdraw its products as it only provides the funding for the lenders, stating that it does not own them.

Kensington – which completed its deal with new owner Investec this week – says it is dedicated to the market.

A Kensington spokesman says: “Since 1995 Kensington has pioneered lending to borrowers with adverse credit, developing a sustainable proposition, built on pricing for risk, that has proved robust throughout a number of economic cycles. Kensington continues to originate quality assets with our asset performance continuing to improve – bucking the current trend in the UK market and further demonstrating the strength of risk management. “

“We remain committed to the specialist mortgage market, including adverse credit, self-cert and buy to let. As one of the proven, experienced high-quality lenders in this sector and under new ownership of Investec, the market can expect more from Kensington.”


L&G recruits head of protection sales

Legal & General has appointed Martin Noone as protection sales director. He will be responsible for protection sales through the IFA channel. Noone previously ran Bupa’s individual protection and group risk sales operation.

Bacon or cheap insurance?

Vegetarian life insurance has been a hot topic since Animal Friends Insurance, the pet insurance specialists, said they would give vegetarians and fish-eaters an average 6 per cent discount on their life premiums.

Mortgage lenders roll out 25-year fixed rate mortgages

Yorkshire Building Society has become the latest lender to launch a 25-year fixed rate mortgage.The lender will be launching two new 25-year fixed rate products with rates of 6.29 per cent and 6.49 per cent, available from August 15.This comes just after both Halifax and London & Country announced the launch of 25-year fixed rate […]

Keep calm and carry on?

We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]


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