The 30% increase will allow the lender to fund close to £1.4bn of new buy-to-let and residential mortgages.
Kensington Mortgages has added 30% of funding capacity after signing up National Australia Bank to its residential warehouse credit line.
The 30% increase will allow the lender to fund close to £1.4bn of new buy-to-let and residential mortgages.
National Australia Bank has joined existing funders Citigroup and BNP Paribas.
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 £535m 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 £1.1bn 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.”
On March 7 the 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.
