Kensington Mortgages

Kensington Mortgages adds National Australia Bank as new funder

Kensington Mortgages has upped its committed revolving warehouse facility and added a third lender to its residential warehouse credit line, with higher volumes of originations expected this year.

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).

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.”

Leave a comment