Together completes £275m securitisation

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  • 26/09/2017
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Together completes £275m securitisation
Specialist lender Together has completed its first public residential mortgage-backed security (RMBS) transaction, issuing £275m.

The securitisation adds to the company’s existing private securitisations, senior secured notes and banking syndicate facilities. It received strong interest and was 2.5 times oversubscribed.

The securitisation is supported by a portfolio of first and second charge owner-occupied and buy-to-let residential mortgages, secured against property in England, Wales and Scotland. It will refinance assets forming part of Together’s AA rated Charles Street facility, which was established 10 years ago.

Together group CFO Gary Beckett said: “This facility will further increase the depth and diversity of our funding structure to support the business on its exciting growth journey.”

Commercial CEO Marc Goldberg (pictured) added: “Having traded successfully for 43 years, we have a proven track record and a robust business model.

“The success of this transaction affirms our financial strength and will allow us to offer new products to our customers, putting us in a great position to move forward with our ambitious plans.”

Together currently operates a loan book in excess of £2.2bn, with record annual lending for the year to 30 June at £1.2bn.

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