Kensington Mortgages may be back next year
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Kensington Mortgages is understood to be in discussions with several distributors and packagers ahead of a potential return to the mortgage market next year.
One source tells Mortgage Strategy: “Kensington has been seen in packagers’ and distributors’ offices holding talks. From what I’ve heard it is looking to come back into the market next January.”
Another source says the Investec-owned lender would not be maintaining its lending business if it did not see a future for the brand.
A spokesman for Kensington says: “As a business we have maintained the capability to originate mortgages and we’re keeping close to the market to see where there may be opportunities should conditions for lending become more favourable.”
Rob Jupp, managing director of Savills Len ding Solutions, says rumours have been floating around but he has not heard anything specific about Kensington.
He says: “If market conditions improve specialist lenders could return.”
Jupp says that for 15 years Kensington was a major player in the sub-prime sector and it has retained its quality brand despite not lending.
Kensington withdrew from the sub-prime sector last November to concentrate on its existing book.
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