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KMC stays on track to meet profit target

A broadened product range has put Kensington Mortgages on track to meet growth expectations this year, despite operating less generous lending policies than some competitors, writes Harriet Williams.

In a briefing issued before the official close of the Kensington business year ending November 30, the lender reports that “profit growth is on track”.

Kensington has widened its product proposition to include lower adverse products for non-conforming borrowers such as the self-employed.

This is contributing to strong new business performance which has seen originations in the last five months rise well above the same period last year.

Alastair Pate, general manager of marketing and strategy at Kensington says: “We&#39ve expanded the product range and seen incremental growth in those areas while still maintaining business levels in other areas.”

The briefing also reports on Kensington&#39s acquisition of a direct arm in the form of The Mortgage Lender, which completed in September.


Future Mortgages joins the M2000 club

Abbey National, Nationwide, Northern Rock, Yorkshire Building Society and the Portman have already joined the m2 panel in 2002. The addition of Future brings the total number of lenders to 28, accounting for around 90% of the mortgage lending market.Alan Collinson, m2-mortgage club national sales manager, says: “We are delighted to welcome Future Mortgages to […]

Housing market continues to slow, says hometrack

The hometrack national November survey of the housing market reveals house price rises averaging only 0.2%. This is the sixth successive fall in house price inflation since May&#39s peak of 2.6%. The slowdown has been mostly the result of falls in higher value properties, mainly in London and the South East. London house prices falls […]

Scottish Widows Bank offers new rates on 102% graduate mortgage

Scottish Widows Bank has introduced the option of a five-year stepped fixed rate to its 102% Graduate Mortgage to help graduates budget in the early years of their mortgage. The qualifying period has also been extended to allow those who have graduated in the last seven years to apply. The Graduate Mortgage allows individuals to […]

Simply Mortgages set to franchise business

A mortgage broker who launched her business just three years is set to franchise the company.Elaine Kellington set up Simply Mortgages in the back bedroom of her home in Kelso on the Scottish Borders. She was formerly at Northern Rock in Edinburgh, which involved daily travel of 100 miles.Within a year Simply Mortgages had moved […]

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Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


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