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.