Mortgages  

Kensington issues £350m securitisation

Kensington issues £350m securitisation

Kensington Mortgages has raised further funding in the capital markets through a new securitisation.

The transaction is backed by £350m of new Kensington originations, of which 19 per cent are buy-to-let loans.

The average loan-to-value is 72 per cent.

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This brings the total amount of securitisations since Northview Group bought Kensington in January 2015, to more than £4bn.

Alex Maddox, capital markets director at Northview, said strong recent fundraising through this channel was testament to the level of investor appetite for “the quality of assets that we are generating”, adding Kensington “will continue to grow our lending business in 2016 and look forward to more activity in the capital markets in the coming months”.

Last April, Kensington’s chief executive Ian Henderson said the lender was back into the cycle of securitisation as part of a strategy for growth, having closed its first securitisation in three years at the end of March 2015, raising £497m to help position it for further expansion.

peter.walker@ft.com