Barclays buys Kensington Mortgages for £2.3bn

Abstract

Kensington, which has 600 staff and specialises in offering mortgages to the self-employed and borrowers with more complex incomes, is being sold by private equity owners Blackstone and Sixth Street. It orginated around £1.9bn of mortgages in the year to March 31 2022. This acquisition will mean that Barclays is one of the few major high street banks to offer more specialist lending solutions. The deal is expected to complete later this year. The final price will depend on the size of Kensington’s mortgage portfolio. It is expected. is expected to be completed later thisyear.