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Release: Kensington Mortgages prices £350m securitisation


Securitisations backed by Northview Group assets top £4bn since January 2015

Kensington Mortgages, which is part of The Northview Group, has raised further funding in the capital markets through a new securitisation, known as Finsbury Square 2016-1.

The transaction is backed by £350 million of new Kensington originations of which 19% are Buy to Let loans.  The pool has a seasoning of 6 months and weighted average Loan to Value of 72%.

This brings the total amount of securitisations backed by Northview Group assets, since the acquisition of Kensington in January 2015, to more than £4 billion through six securitisations.

Alex Maddox, Capital Markets Director at The Northview Group, says: 

“In light of challenging market conditions, due to Brexit worries and general uncertainty in the global capital markets, Finsbury Square 2016-1 has attracted good investor demand, with the senior tranche priced at 3-month LIBOR +150bps. 

“This means that, in the past 15 months, we have successfully securitised assets worth more than £4 billion. This is testament to the level of investor appetite for quality assets and the quality of assets that we are generating. We will continue to grow our lending business in 2016 and look forward to more activity in the capital markets in the coming months.”