View more on these topics

Kensington to re-price and tighten criteria on adverse range next week

Kensington has confirmed it will be re-pricing and changing its criteria for its adverse range but will announce the exact details next week.

The lender says its adverse range will be re-priced and its criteria changed on September 7 and has sent an email around to brokers in order to give them a week’s notice.

Kensington has already increased its adverse core range by 0.55 per cent earlier this month.

The email to brokers says: “Given current global capital market volatility, the cost of funding adverse credit mortgages is changing daily, as is investor appetite for mortgage portfolios which include high LTV, high adversity loans. We review our pricing and criteria on a regular basis and, at the moment, funding cost is increasing and investor appetite has decreased, portfolios since 1995, we must reflect this in our product pricing and criteria.”

Kensington says the current rates and criteria will be available until close of business on September 6.

To guarantee its current rates and criteria, applications must be signed and dated on or before September 6 and received by Kensington by close of business on September 11.

Kensington says: “We will continue to review our pricing and criteria and are committed to communicating any changes at the first opportunity to ensure that our actions remain transparent and easy to understand. We will also be looking out for the moment at which the cost of funding starts falling again to ensure that Kensington products remain competitive in a changing market.”

Recommended

Half of advisers want more innovative solutions, says Lincoln Financial Group

A poll by Lincoln Financial Group shows 50 per cent of financial advisers want to see more innovative solutions launched into the retirement income market.The research also claims that financial advisers with national firms are the most convinced of the need for innovation with 64 per cent saying increased innovation is needed to improve their […]

F&C launches a diversified growth fund

F&C is launching a diversified growth fund which it says aims to address the lack of portfolio diversification across pension schemes.F&C says the fund will offer an alternative to the balanced pooled platforms currently available in the UK market place.The F&C diversified growth fund has a 50 per cent exposure to alternative assets. F&C says […]

Herbert in benefit move to Origen

Steve Herbert is joining Origen’s corporate pensions team as a senior benefits education consultant from Truestone Employee Benefits.

Quality street

Last week, I returned to the airwaves for the first time in some months. The subject matter seemed particularly apposite, given the state of markets. How should investors go about buying shares was the question posed to me. Inevitably, it led into whether private individuals ought to buy shares direct and what was my opinion of the wild gyrations in the market at present.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment