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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

Barclays to buy Kensington Mortgages as interest rates rise

Barclays Kensington Interest Rates United Kingdom Starling
A branch of Barclays bank in London
Barclays said the final price would depend on the size of Kensington’s mortgage portfolio at the time the deal completed. Photograph: Peter Nicholls/Reuters

Barclays is to buy the specialist mortgage lender Kensington Mortgages for £2.3bn, in a dash for mortgage books as interest rates rise.

The acquisition comes at a time of intense competition in the mortgage market, and as rising interest rates provide a boost to lenders.

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