Notes to Editors
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+44 (0)20 3047 2534
+44 (0)207 116 3837
About Kensington Mortgages
Kensington Mortgages was founded in 1995. The business was acquired by Blackstone and Sixth Street in 2015, initiating a period of considerable growth and investment. The mortgage servicing business Acenden was also acquired by the same investors and merged with Kensington, creating a broader UK mortgage business.
Since the acquisition, Kensington has more than tripled the number of underwriters it employs and almost quadrupled its origination volumes. Kensington lent £1.9bn* in new mortgages (including retentions) for the year ended 31st March 2022.
A clear period of growth was initiated with the arrival of Mark Arnold as CEO in April 2018. Under the guidance of the leadership team, Kensington consolidated a number of disparate legacy brands under a revitalised Kensington identity, launched a best-in-class, data and analytics driven and highly scalable integrated technology platform, sharpened its market positioning and launched a range of new and innovative products. These include mortgages for public sector workers, products that reward borrowers for improving the environmental credentials of their home and a new fixed for term mortgage where monthly payments remain fixed for the entire term of the loan.
The business has very strong credit controls. Only 19 loans issued by Kensington Mortgages since 2010 have gone into default, with the total cumulative losses on those loans amounting to just £252,000.
About Barclays Group
Barclays PLC is a British universal bank. It is diversified by business, by different types of customer and client, and geography. Its businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by its service company which provides technology, operations and functional services across the Group. For further information about Barclays, please visit its website home.barclays.