Sub-prime Lender's Profit Warning

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Sub-prime Lender's Profit Warning
Topic Started: Mar 24 2007, 11:24 AM (350 Views)
whistleblower	Mar 24 2007, 11:24 AM Post #1
www.saynotoyes.co.uk Posts: 2,649 Group: Admin Member #1 Joined: May 13, 2005	Sub-prime lender's profit warning. As a result of that, the chief executive John Maltby has decided to step down. The review may also lead to the company being sold. Check Kensington Group's share price Sub-prime mortgage lender Kensington Group has issued a profit warning and says its chief executive is leaving. It says that increased competition in the sub-prime mortgage market will hit profits in the coming years. Sub-prime lenders provide mortgages for people with lower credit ratings and unusual employment situations and tend to charge higher rates of interest. Earlier this month, problems at the US sub-prime lender New Century contributed to falls on global markets... bbc
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Bakedalasker	Mar 24 2007, 04:45 PM Post #2
www.saynotoyes.co.uk Posts: 2,351 Group: Members Member #30 Joined: May 29, 2005	Now is this becuase there is not enough money to lend or have these companies lent risky with its consequences.



Buzz	Mar 24 2007, 04:52 PM Post #3
www.saynotoyes.co.uk Posts: 1,399 Group: Members Member #2 Joined: May 17, 2005	Kensington have such a terrible name that most mortgage brokers will only use them as a very last resort. They are the YCC of the mortgage world with gormless pillocks in the call centres and not even an ounce of customer service between them. They are notorious for not allowing other companies to put a second charge against the home by way of a secured loan, etc., even when there is plenty of equity. Just plain awkward. Buzz
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