Kensington Mortgages has successfully priced a £452m mortgage-backed securities transaction in the wholesale financial markets.
Kensington has placed its third securitisation for the year, taking the total funds raised for the Group to £13.4bn in 24 transactions since 2015.
All tranches were oversubscribed, with the seniors and mezzanine tranches going to 26 different accounts.
The transaction will raise £463.7m of funding for the Group, to continue to support complex and underserved borrowers to get on the property ladder.
Alex Maddox, capital markets director at Kensington Mortgages, said: “We continue to build on the strong position we hold in the UK RMBS market and are delighted to issue our third and final securitisation of the year.
“This follows Kensington’s issue of the first Social Bond in the UK and RMBS markets and first Green Bond within the UK ABS market from a specialist lender earlier this year.
“Our business purpose aim is always to help underserved borrowers. We look beneath the surface and consider complex and multiple income sources and lend to those who do not pass the automated credit process that most high street banks rely on and otherwise struggle to own a home.
“The business is seeing strong growth accompanied by stable returns, and this is reflected in the strong appetite amongst investors for our securitisations.”
