The deal means that Kensington is no longer individually listed on the Stock Exchange and is now part of a much bigger institution with access to all of the strengths that a major global player has to offer, including working capital for investment and lower cost - and more flexible - funding.
Kensington has already demonstrated how these strengths can benefit intermediaries, with the launch of a ‘summer season’ of fixed rates last week and a commitment to invest £9 million to upgrade its automated systems.
Alison Hutchinson, chief executive of Kensington, said: ““With Investec’s backing, the market expects more from Kensington. And they’ll get it. Just as we defined the adverse credit market in the mid 1990s, we are redefining our position at the centre of the specialist lending market of the future. It’s going to be an exciting time for our business partners as we launch competitively priced innovative products, backed by the right mix of technology and human expertise to deliver consistently high service levels.”
