Kensington Mortgages

At least four banking brands are considering a bid for Kensington Mortgages with private equity firms also interested in the lender.

Investec is considering the sale of Kensington, its intermediary mortgage business in the UK, and has appointed Fenchurch Advisory to conduct the procedure.

QUICK QUIZ

Kensington Mortgage Company has been fined £1.225m for the "unfair treatment" of some customers in arrears and has agreed to pay an estimated £1.066m customer redress.

Alison Hutchinson has resigned as chief executive of mortgage provider Kensington Group following the group's acquisition by Investec in August last year.

Kensington Mortgages has today announced it will be pulling out of the adverse or sub-prime credit market.

Stephen Knight, former chairman of GMAC-RFC, is launching a new vehicle for creating and owning mortgage lenders, called Checkmate Mortgages Limited.

Kensington Mortgages is providing its packaging partners with the ability to produce automated valuations (AVMs) on mortgage applications.

Money Partners is to launch into the direct to broker market through the acquisition of specialist broker packager Residential 1 for an undisclosed sum.