UK: KENSINGTON MORTGAGE PLANS TO FLOAT
Article Abstract:
Kensington, the non-conforming mortgage lender, plans to float on the London Stock market for up to GB[pound] 200mn if conditions are favourable. Around 100 packagers were given share options in the company when they placed business and now these are worth 4% of total equity and valued at GB[pound] 8mn.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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UK: CML FIGURES SHOW FALL IN HOME REPOSSESSIONS
Article Abstract:
The number of home repossessions by mortgage lenders in the UK in 2000 was the lowest in ten years, according to figures published by the Council of Mortgage Lenders and the Lord Chancellor's Department, due to the stable economy, financially more cautious home buyers and relatively low unemployment. The total number of repossessions for 2000 was 22,610 compared with the 1990 figure of 43,890, with a drop of 25% on the year from the end of 1999. Nick Raynsford, housing minister, while welcoming the reduction warns of complacency, saying that the government is trying to encourage lenders to offer more flexible mortgages to help buyers to cope with financial problems.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: KENSINGTON GROUP FUTURE LOOKS GOOD AFTER LISTING
Article Abstract:
The Kensington group, the mortgage lender whose main market is borrowers with poor credit ratings, has announced plans to grow it's new business, coming from lenders who have already turned down the customer's application, by 7% which is equivalent to GBu 50mn. Following Kensington's stock market listing in November 2000 it has reported an increase to GBu 19.2mn in pretax profits in the 12 months to November 2000. The company's shares however are trading at GBu 0.17 less than the flotation price of GBu 2.25
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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