Kensington Mortgages has announced the renewal of its warehouse credit line with BNP Paribas (BNP) and Citibank (Citi).

This funding will allow Kensington to fund almost £1 billion worth of new originations, securing funding for buy-to-let and owner occupied originations up to January 2021.

The warehouse line is funded equally by Citi and BNP.

In total, Kensington has raised close to £2 billion of funding through securitisations in 2018 via the issuances of four RMBS.

Alex Maddox, capital markets director for Kensington Mortgages, said: “As we start the New Year, Kensington remains an active player in the wholesale funding markets. The renewal and extension of this warehouse facility will provide funding capacity for new loans originated up to January 2021 and thereby provide Kensington with the confidence to grow in the current politically volatile and uncertain climate.

“We’ve raised almost £13 billion of funding through warehouse lines and securitisations since Kensington Mortgages changed ownership in 2015.”

Craig McKinlay, new business director for Kensington Mortgages, added: “As the lender that established the Specialist Mortgage market in 1995, with 24 years of experience, the renewal of our warehouse line, together with our product innovation across our residential and buy-to-let portfolios in 2018, allows us to continue to lend with head and heart, and helping customers onto the property ladder.”