Together prices its third residential mortgage backed securitisation in 2024

Cheadle-based specialist property lender, Together, has announced the successful pricing of a £445 million residential mortgage backed securitisation.

The pricing of its 1st charge only TABS12 securitisation is the lender’s third of 2024, and is supported by a portfolio of owner-occupied and buy-to-let loans against properties across England, Scotland and Wales. 89.5% of issued notes are expected to be rated AAA by S&P and AAA by Fitch.

Mike McTighe, Chairman of Together commented:

“We are delighted to announce the successful ricing of our third RMBS this year as we continue to support more residential owner occupier and buy-to-let customers in realising their ambitions.”

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

“Since the start of this calendar year, we have successfully raised or refinanced over £2.2 billion across six transactions. As we continue to strengthen and diversify our funding, this highlights the strength of our business model, quality of our loan book and strong ongoing support from our investors.”

The pricing is the latest refinancing of assets from Together’s AA rated £1.25 billion Charles Street facility, and complements the lender’s existing seven public residential and four commercial real estate MBS, six private securitisation facilities, senior secured notes and banking syndicate facility (RCF).

Lloyds acted as Arrangers and Joint Lead Managers accompanied by Natixis and Santander as Joint Lead Managers.