Together strengthens funding programme with launch of £200 million facility

Cheadle-based specialist property lender, Together, has announced the successful closing of its £200 million Genesis Asset-Backed Securitisation (GABS) facility.

The GABS facility is a revolving private warehouse securitisation maturing in December 2029. It is a tailored facility backed by a diversified pool of Together’s bridging and term mortgage loans, secured on residential, mixed-use, and commercial properties.

The launch of the new facility will support the lender’s ongoing growth following recent announcement that Together’s loan book has surpassed £8 billion for the first time.

Gary Beckett, Group Managing Director & Chief Treasury Officer at Together, said of the new facility’s launch:

“The completion of another successful funding transaction this calendar year underscores the continued strength of Together’s business and the long-term support of our funding partners. This new facility enhances our liquidity position and strengthens the maturity profile of our funding structure, enabling Together to further support customers in achieving their property ambitions.”

GABS will provide ongoing funding for loans secured against residential, mixed-use and commercial property in England, Wales and Scotland.

Since the start of the calendar year, Together has raised or refinanced over £3.6 billion across nine transactions, to strengthen and diversify the group’s funding programme as it works towards its growth ambitions.