Cheadle lender secures increased bridging facility

Cheadle based specialist lender and mortgage provider has announced it has increased its facility for unregulated bridging lending to £400 million.

The Delta Asset Backed Securitisation 2 Limited facility (DABS) has been extended to December 2025, and increased from £200 million to £400 million in reflection of strong performance of the assets which support it. The increased facility will allow the Cheadle lender to offer increased flexibility to customers, with two additional funding partners now supporting the refinancing.

Gerald Grimes, Group CEO Designate of Together commented:

“We are delighted to announce the successful refinancing and upsizing of our facility for unregulated bridging loans as we continue to shape our business to help increasing numbers of customers realise their ambitions.”

Gary Beckett, Group Managing Director and Chief Treasury Officer at Together, added:

“The DABS facility forms an integral part of our diverse funding platform, with the refinancing adding further liquidity and depth of maturity to our structure. In the last twelve months Together has raised or refinanced over £2.3bn across eight transactions demonstrating the continued strong support from our funding partners as we continue to successfully grow the business.”

DABS launched in 2017 originally as a £90 million facility and now comprises part of Together’s diverse funding structure. The Cheadle lender is financed by six public securitisations, five private securitisation facilities, two series of senior secured notes and a revolving credit facility.