Together Financial Services Limited, the Cheadle, Cheshire-based non-bank relationship lender, announce the refinancing of its securitisation facility for property development lending, ADALO Asset Backed Securitisation (ADALO).

Together Financial said the deal involves £100 million securitisation to support residential and commercial development customers.

It said the facility was refinanced on “improved commercial terms” with maturity extended to March 2030, with revolving period ending March 2028.

Gary Becket, Group Managing Director and Chief Treasury Officer of Together, said: “We are delighted to announce the successful refinancing of our development securitisation facility, ADALO, on improved commercial terms and with the maturity date extended to March 2030.

“This facility will allow us to extend our support to even more residential and commercial property developers across the UK, helping to create vibrant communities and deliver much-needed homes and workspaces.”

Together Financial said ADALO Asset Backed Securitisation will provide ongoing funding for loans secured against developments in England, Wales and Scotland.

“Since the start of the calendar year, Together have raised or refinanced over £3.4bn of facilities across eight transactions, to strengthen and diversify the group’s funding programme to support its growth ambitions,” said the firm.