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Kensington Group, the UK's first sub-prime lender, will tomorrow stop offering mortgages to borrowers with poor credit histories, blaming market conditions.
The troubled lender says it will increase its focus on low risk products, rather than the "adverse" loans for which it is known.
In an email to mortgage brokers, the lender said the move was temporary and is the "result of the recent further tightening in the global capital markets".
Kensington Group, the UK's first sub-prime lender, will tomorrow stop offering mortgages to borrowers with poor credit histories, blaming market conditions.
The troubled lender says it will increase its focus on low risk products, rather than the "adverse" loans for which it is known.
In an email to mortgage brokers, the lender said the move was temporary and is the "result of the recent further tightening in the global capital markets".
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