The buy-to-let and residential mortgage lender has increased the facility by an additional 30%, allowing it to fund close to £1.4bn worth of new buy-to-let and owner-occupied mortgages.
As part of this, Kensington has added National Australia Bank as a new funder alongside Citigroup and BNP Paribas.
“Last year, Kensington originated £1.1bn of new loans which represented an increase in volumes of 22% versus the previous year, and now we are well funded to support at least a similar level of growth this year,” said Alex Maddox, capital markets director at Kensington Mortgages (pictured above).
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On 7th March, the lender’s wholesale funding platform publicly placed its latest securitisation transaction called Finsbury Square 2019-1, which raised a further £535m of funding for Kensington.
Citi, BNP, NAB and Deutsche Bank acted as joint lead managers on that transaction.
“Kensington is having a very busy first quarter of the year with the extension and upsize of our warehouse credit line and the successful placement of a new £535m securitisation,” added Alex.
“These transactions will support Kensington’s continued expansion of its mortgage range to new products and increased origination volumes in both the buy-to-let and residential segments.”
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