Kensington share price drops

Kensington Group’s share price dropped to 463p late last Friday, following Investec making an acquisition offer for the company two weeks ago. The Investec offer values Kensington share at 519.5p each and the lender’s overall value at about £283m.

Abbey joins 100% lending arena

Abbey will enter the high LTV lending arena later this week with the launch of a 100% product. But Melanie Bien, director at Savills Private Finance, says: “This product isn’t revolutionary and the rates aren’t brilliant but it will be welcomed by struggling first-time buyers.”