Kensington Mortgages’ existing warehouse facility has added an additional 30% of funding capacity.
This will allow Kensington to fund close to £1.4 billion worth of new buy-to-let and owner-occupied mortgages.
As part of the upsize, Kensington added National Australia Bank (NAB) as a new funder alongside Citigroup and BNP Paribas.
On 7 March, the platform also publicly placed its latest securitisation transaction called Finsbury Square 2019-1 which raised a further £535 million of funding for Kensington.
Citi, BNP, NAB and Deutsche Bank acted as joint lead managers on that transaction.
Alex Maddox, capital markets director for Kensington Mortgages, said: “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 £535 million securitisation.
“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.
“Last year, Kensington originated £1.1 billion 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.”
