The new lender will sit alongside specialist lender Kensington which will continue to focus on full manual underwriting for each individual borrower.
Speaking at Kensington’s 20th anniversary lunch yesterday Amany Attia, chief executive of the Kensington Group and its mortgage servicing company Acenden Mortgage Servicing Solutions, said: “A new lender will launch in January offering a much broader range of products.
“There are challenges by way of regulation but we are in a good position to take advantage of that opportunity as much as possible.”
David Finlay, former managing director at Barclays intermediary channel, is expected to head up the new lender’s sales and broker relationships.
Attia also revealed that the wider group was planning a rebrand but did not disclose what the new name would be.
She added: “We are launching a new group with a new set of values to take advantage of the full customer segment.”
The moves follow the acquisition of Kensington from Investec for £180m in February this year by Blackstone and TPG.
The two private equity funds also bought Acenden Mortgage Servicing Solutions from Lehman Brothers’ administrators in January 2015.
