Funding

KENSINGTON MORTGAGES INCREASES WAREHOUSE FUNDING LINES TO £2.6 BILLION 

• Kensington has increased its overall secured funding to £2.6 billion – the equivalent of $3.5 billion
• The increase consists of an upsize of £800 million to the existing warehouse facility and a new £500 million warehouse facility
• Kensington’s funding is split between four banks: Lloyds Bank, BNP Paribas, National Australia Bank and Bank of America
• The increase in funding will allow Kensington to continue to fund its large pipeline (currently at £900 million) of new originations for both owner-occupied and buy to let mortgages 

03 March 2022: Kensington Mortgages announced that it has successfully doubled its secured funding lines to £2.6 billion in total – up from £1.3bn - the total equivalent of approximately $3.5bn. The increase consists of an £800 million upsizing to the existing Sloane Square warehouse facility, now valued at £2.1bn, and a new £500 million warehouse facility.

The increased capacity will help Kensington continue to support complex and underserved borrowers to get on the property ladder.

The Sloane Square warehouse line is one of the largest UK mortgage warehouse lines for new residential mortgage originations. This extended warehouse funding continues the success of Kensington’s securitisations last year where it raised just over £1.8billion in total.

The new £500million facility will fund the call of two existing securitisations (Finsbury Square 18-2 and Finsbury Square 19-1). This continues to demonstrate the importance Kensington Mortgages places on its securitisation programme.