Specialist lender Kensington has postponed the securitisation deal it launched on 1 November as a result of "current market conditions."
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.
