Together prices 11th securitisation at £425.5m

TABS8 is supported by a portfolio of first charge owner-occupied and buy-to-let residential mortgages, secured against properties in England, Wales and Scotland, and refinances assets and forms part of the company’s £1.25bn Charles Street facility and the group’s senior secured notes.

The facility complements the group’s existing five public residential and three commercial real estate mortgage-backed securities, six private securitisation facilities, senior secured notes and banking syndicate facility.

Over the past year, Together has raised or refinanced £1.6bn of facilities across four transactions in a bid to “diversify and extended” the lender’s funding profile.

The placed notes are priced at an averaged cost of 1.65 per cent with an advance rate of 93.8 per cent.

Gerald Grimes, group CEO designate of Together, said: “We are delighted to announce the pricing of our TABS8 residential mortgage backed securitisation which will further support our residential owner occupier and buy-to-let customers in realising their property ambitions.”

Gary Beckett, group managing director and chief treasury officer at Together, added: “TABS8 is our eighth RMBS and our eleventh public securitisation overall since 2017, underlining the quality of our loan book and the ongoing strong support from our funding partners.”