The portfolio comprised first and second charge mortgages against small value commercial, residential and mixed-use properties in England, Wales and Scotland. Some 58 per cent of the mortgage holders in the portfolio are self-employed. 

Citibank and HSBC acted as joint arrangers for the deal while Barclays and Natixis were joint lead managers. 

The securitisation follows the group’s £500m bond issuance last January and its £366m residential mortgage backed securitisation in July. 

Gerald Grimes, group CEO designate of Together, said: “We are delighted to announce the successful completion of our £200m small balance commercial real estate mortgage backed securitisation, the first transaction of its type in the UK since the global financial crisis.  

Sponsored

The new-build energy advantage

Sponsored by Halifax Intermediaries

“The issuance adds further headroom as we continue to support UK businesses and shape our business for an exciting future.” 

Gary Beckett, group managing director and chief treasury officer at Together, added: “We are very pleased to have reopened the small balance commercial real estate mortgage backed securitisation market in the UK and to have added increased diversification to our funding platform.”