Together Financial Services Limited, the Cheadle, Cheshire-based non-bank relationship lender, announced that it has “upsized” its revolving Lakeside securitisation programme (LABS) from £825 million to £1 billion, with maturity extended to November 2028.

“LABS, which primarily supports the Group’s unregulated and regulated bridging lending, was first launched in 2015 as a £255m revolving securitisation facility,” said the company.

“The facility has since increased to £500m in 2019, £700m in 2022 and further increased to £825m in 2023.”

Gary Beckett, Group Managing Director and Chief Treasury Officer of Together, said: “The completion of yet another successful upsizing of our LABS securitisation, on improved commercial terms, reflects the continued strength of Together’s business and the long term support of our funding partners.

“The refinance adds further liquidity and depth of maturity to our funding structure as Together continues to help increasing numbers of customers to realise their property ambitions.”

Together said it has a diverse and mature funding structure “encompassing twelve public and six private securitisation facilities, two series of senior secured notes and a revolving credit facility.”

It said that this calendar year, Together has raised or refinanced over £3.3 billion of facilities across seven transactions.

In September, Together Financial Services announced the appointment of Paragon Bank executive Richard Rowntree as CEO and executive director with effect from early 2025.

Together’s founder and ultimate controlling shareholder Henry Moser is to become executive vice chairman.