Together successfully completes Brooks Asset Backed Securitisation 2

Cheadle based specialist property lender, Together, has announced it has completed new Brooks Asset Backed Securitisation 2 (BABS2) facility.

The sub-performing loans facility succeeds the lender’s current BABS facility, first issued in 2021. The £121.9 million securitisation consists of a varied pool of certain residential and commercial purpose sub-performing loans previously funded from across the Together group.

Together will continue to service and manage the loans within the new facility and will retain the customer relationships, reflecting our specialist expertise and our focus on ensuring the best outcomes for our customers. BABS2 complements the Group’s existing 13 public mortgage-backed securitisations, seven private securitisations, senior secured notes and revolving credit facility.

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

“We are delighted to announce the completion of BABS2, which provides additional flexibility to our funding platform. Since the start of the calendar year, we have successfully raised or refinanced £2.5bn across five transactions as we continue to broaden our funding and raise additional liquidity to support our growth ambitions.”