Investec Bank plc said it has decided to postpone the marketing of Gemgarto 2011-1 plc and thanked investors for their time and interest.

Around the time of the announcement on 1 November, the deal was expected to be well-received by asset managers, but the effects of the Eurozone crisis are thought to have made the pricing unattractive.

All the mortgages within the deal, termed a prime portfolio, were originated by Kensington since its return to lending in November 2009.

The notes were expected to be rated AAA by Standard & Poors, Fitch and DBRS.