Kensington Group, the UK mortgage lender to borrowers with adverse credit ratings, is to invite banks to pitch for a £350m (€568m) to £400m securitisation for launch in April.

John Maltby, chief executive of Kensington, told efinancialnews.com that he will be looking to WestLB, Morgan Stanley, Barclays Capital and Bear Stearns to pitch for the lead role on the securitisation. The news came shortly after the company published its first set of full financial results since it began trading as a public company last November.