Together upsizes securitisation facility to £1.2 billion

Cheadle-based specialist property lender, Together, has announced a further upsizing of its revolving Lakeside securitisation programme (LABS) to £1.2 billion.

The £200 million increase in the securitisation facility is backed by existing lenders BNP Paribas, Lloyds Bank and NatWest.

The LABS facility primarily supports the Group’s unregulated and regulated bridging lending, and was first launched in 2015 as a £255 million revolving securitisation facility. The facility has since increased on four occasions, most recently to £1.0 billion in November 2024.

Chris Adams, Chief Financial Officer at Together, commented:

“This further upsizing of LABS reflects the continued confidence of our long-standing banking partners in Together’s platform, performance and disciplined growth strategy. The increased facility provides additional capacity to support demand across our bridging products, while preserving the strong commercial terms and maturity profile of the programme.”

Together has a diverse and mature funding structure encompassing thirteen public mortgage-backed securitisations, eight private securitisation facilities, secured notes and a revolving credit facility. This calendar year, Together has raised or refinanced over £2.1 billion of facilities (including LABS) across five transactions.