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Investec anticipates 12.5pc slump in UK house prices

Investec, the South African bank that last year bought Britain's sub-prime mortgage specialist Kensington Group, has warned that UK house prices will fall 12.5pc over the next two years.

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Investec faces up to £60m sub-prime hit

South African and UK-listed investment bank Investec is to take a hit of up to £60m on Kensington Group, the sub-prime mortgage business it bought for £283m less than 12 months ago.

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Kensington halts loans to higher-risk borrowers

Kensington Group, the UK's first sub-prime lender, has stopped offering mortgages to borrowers with poor credit histories.

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Kensington to close to sub-prime borrowers

Kensington Group, the UK's first sub-prime lender, will tomorrow stop offering mortgages to borrowers with poor credit histories, blaming market conditions.