Together Financial Services Limited, the Cheadle, Cheshire-based non-bank relationship lender, announced the successful pricing of its £276.8 million 2nd charge only residential mortgage backed securitisation (RMBS) — called the Together Asset Backed Securitisation 2025 – 2ND1 PLC (TABS13).
TABS13 is supported by a portfolio of 2nd charge owner occupied and buy-to-let loans secured against residential property in England, Scotland and Wales.
It refinances assets forming part of the group’s £387 million Wilmslow ABS facility and the group’s senior secured notes.
“The new facility complements the group’s existing nine public residential and four commercial real estate MBS, seven private securitisation facilities, senior secured notes and banking syndicate facility (RCF),” said Together.
Gary Beckett, Together Financial Services’ Group MD and Chief Treasury Officer, said: “We are delighted to announce the successful pricing of our first public RMBS this year as we continue to support more residential owner occupier and buy-to-let customers in realising their ambitions.
“Since the start of this calendar year, we have already successfully raised or refinanced over £1.87 billion across three transactions, as we continue to strengthen and diversify our funding programme to support our future growth strategy.”
BNP Paribas acted as Arrangers and Joint Lead Managers accompanied by HSBC, Santander and Wells Fargo as Joint Lead Managers.