Kensington withdraws from sub-prime market

The lender will now focus on its prime market proposition until markets conditions improve and adverse lending becomes more profitable. The firms says there is little appetite for adverse credit portfolios among investors and the firm has decided to protect its long-term interests by exercising caution in the short term. The firms says a higher demand for low-risk assets has prompted it to revamp its prime range of products. Changes to the prime range include withdrawal of buy-to-let self-cert products for first time investors, withdrawal of the K1995 special, and removal of upper LTV ba...