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Kensington one of many expected to make a comeback

A number of lenders are expected to relaunch into the secured loan market next year, with Kensington tipped to be one of them, Mortgage Strategy understands.

A spokesman for Kensington says it is interested in returning to the sector, which it exited in 2007, but it cannot give a timeframe for this.

John Prust, former director and founder of Southern Pacific Mortgage Limited, is also looking to launch a secured loan lender in 2011.

He says: “I am confident we will launch a lender by next summer. It has been a slow and frustrating process but we have made good progress and are near the starting line.”

Paragon is also rumoured to be looking to make a comeback.

A spokesman for Paragon says its focus remains on buy-to-let, but it does intend to return to secured loan lending via the Paragon Personal Finance brand when conditions are right.

Robert Owen, former chief executive of White Label Lending, also plans to launch secured loan lender Chambers Harris next year.

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