Kensington Secured Loans hints at increasing rates

Monday, 3^rd Sep 2007

Kensington Secured Loans says it is not a question of if but more a question of when it will be repricing its range, because of current market conditions.

A spokesman for Kensington Secured Loans has hinted that it will soon be increasing its rates.

"There is a huge amount of volatility in the market at the moment which affects the cost of funding.”

Kensington also revealed today that its head of product development, Keith Wardell, handed in his notice three months ago.

Kensington says it has found a replacement, but will not be announcing it just yet.

Wardell is leaving the group to set up a new proposition in Dublin, Ireland.

As an interim measure Kensington has hired Richard Vincent to replace Wardell.