With Kensington's sights set on the sub-prime market, the alliance will ensure that Kensington becomes more accessible to the consumer, while the company continues to build on its existing and potential intermediary relationships.
Kensington will be using three key distribution channels: intermediaries via mortgage packagers, relationships with national lenders like Alliance & Leicester and the direct to consumer channels.
Kensington’s newly launched product range will create more opportunity for all of the distribution channels ensuring that more borrowers can benefit from Kensington’s renowned levels of service.
The recently expanded product range covers potential borrowers’ needs from those who may just fail a credit score to those who have more extensive credit histories. It is available to all borrowers whether through an intermediary or direct through The Mortgage Lender.
Kensington Chief Executive, John Maltby, said: “”The alliance is a positive step forward for Kensington, and by bringing together the complimentary strengths of both companies, we will be in a stronger position to respond to a larger range of potential borrowers. We expect significant growth in lending for the enlarged Kensington Group as we explore the opportunities created by combining two leading companies in the non-conforming sector.”
