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KMC offers new loan range

Sub-prime lender Kensington Mortgage Company is offering a raft of

non-conforming fixed and discount rate loans for borrowers with minor

credit difficulties.

The lender, which floated on the London Stock Exchange last November, has

set up seven loans which it believes will attract a more diverse range of


Available for purchase or remortgage, the loans are fixed until January

2003 and offer rates from 5.99 per cent to 6.49 per cent depending on

credit history and loan to value.

Income multiples are 3.5 times single income or three times joint income.

Borrowers unable to prove inc-ome can also apply.

Kensington is also offering a 1.25 per cent discounted variable rate loan

until January 2003. Under current interest rates, borrowers pay 6.75 per

cent during the discounted period before switching to the lender&#39s variable

rate of 8 per cent.

For borrowers looking to enter the letting market, Kensington is launching

buy-to-let loans at rates from 6.74 per cent to 7.24 per cent. Brokers get

0.5 per cent of the loan to a maximum £2,500.

Chief executive John Maltby says: “We are committed to meeting the needs

of borrowers in the non-conforming market.”


Godfrey may have found solution to pension dilemma

So, the pension debate rumbles on over how to reach out to the greatunpensioned. Most of those in the know advocate some form of compulsorycontribution as the only way to achieve this goal. Meanwhile, the Government&#39s answer- stakeholder – appears to be founderingbefore our very eyes, with at least two companies, Clerical Medical,although temporarily, and […]

GIA takes four paths to hedge funds

London-based Global Investment Advisers (GIA) has introduced the GAIM hedge fund.The fund is listed on the Dublin Stock Exchange and is domiciled in the British Virgin Islands. Available to UK investors, the minimum investment into the fund is either $10,000 or 10,000 EurosAimed at high net worth sophisticated investors who understand the way the hedge […]

Leeds & Holbeck – Flexible Mortgage

Tuesday, 28 August 2001.Type: Capped rate flexible mortgage.Capped term: Until November 1, 2004.Capped rate: 6.39 per cent.Minimum loan: £25,000.Maximum loan: Up to 95 per cent of valuation subject to a maximum of £200,000, up to 90 per cent subject to a maximum of £300,000, up to 85 per cent subject to a maximum of £500,000, […]

Lobbying ends ad clutter on the Tube

Lobbying by fund managers and advertising agencies has forced ViacomOutdoor, the company responsible for London Underground poster ads, intointroducing a new policy banning similar ads being placed next to eachother. The new system of “category alternation” means companies in all sectors,not just financial services, will never again face the problem of adsplaced alongside competitors, making […]

Can UK companies satisfy global appetites?

By Mark Martin, Manager of Neptune UK Mid Cap Fund

Rapid economic and income growth is leading to a dramatic shift in diet towards protein products right around the globe. UK companies such as Genus, the world’s largest livestock breeder, are benefiting from this increasing demand. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses this investment theme.


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