Recent press reports claim Permira was mulling over a 500m approach for the group, but has backed off from a formal bid after failing to put together a financing package, especially in light of Kensington’s rising share value.Kensington Group’s share price stood at 870p at the time of going to press. Alison Hutchinson, managing director of Kensington Mortgages, says the price demonstrates the company’s strong marketplace position. She says the group has never had a ‘for sale’ sign up, but doesn’t rule out such a future occurrence. She says: “We are continuing to grow and are on track to be 50% up in profit, which is in line with expectations. “You can never say never, but we are just enjoying our position in the market at the moment and our continued growth.” Kensington Mortgages, which was added to Advantage Home Loans’ branded lending panel just a few weeks ago, has also reaffirmed its intentions with the mortgage arranger. Hutchinson says: “Our products are strong and as long as we continue to deliver what our customers want, there is no reason we should be worried about another lender entering the market.” She says Kensington’s relationship with Advantage will not change unless the arranger altered its business model.
Nationwide has issued a report on children’s savings that suggests Britain’s ‘buy now, borrow later’ culture means fewer people are saving for their futures.
From Trevor Youens I was interested to read Alan Dring’s article in last week’s Mortgage Strategy (December 12) extolling the virtues of not sticking our heads in the sand with regard to how Home Information Packs are going to impact on our business. It is all too easy to dismiss HIPs as just another government […]
From Ian McIver Michael Norwood’s letter (Mortgage Strategy December 5) where he asks the question “Am I an IFA?” is an interesting one. Prior to mortgage/GI regulation, my network was an IFA network and it still is. Some members did pensions, some did investments, some did both – it didn’t matter really. The broad rule […]
Research by propertyfinder.com has revealed that an increase in the number of people making their homes energy efficient has more to do with saving money than saving the planet.An overwhelming 75% of respondents say the savings they could make on their fuel bills as a factor which would encourage them to make their homes more […]
Alex Ralph, manager of the Artemis High Income Fund, sees further pressure on government bonds as inflationary pressures build on both sides of the Atlantic.
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