The securitisation, Together Asset Backed Securitisation 14 2025 – 1ST1 PLC (TABS14), is the second of the year and 0.81% weighted average cost of placed notes at a 95% advance rate.
Around 90% of the issued notes are expected to be rated AAA(sf) by S&P and AAA(sf) by Fitch.
TABS14 is backed by a portfolio of first charge owner-occupied and buy-to-let (BTL)loans secured against residential properties in England, Scotland and Wales. It forms part of the group’s £1.2bn Kingsway facility.
It complements the firm’s existing seven public residential and four commercial real estate MBS, six private securitisation facilities, senior secured notes and banking syndicate facility.
Richard Rowntree, group CEO of Together, said: “The successful pricing of TABS14 is another meaningful step on our journey to giving people a fair chance to turn their homeownership ambitions into reality.”
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Gary Beckett, group MD and chief treasury officer at Together, added: “Since July 2024, we have successfully raised or refinanced over £5bn across ten transactions. The successful pricing of TABS14 reflects the high quality of our loan book, the strength of our business model and the continued confidence and support from our investors.”
Together reduces bridging rates
Together has lowered bridging rates, including regulated and unregulated bridging as well as variable BTL rates.
Looking at regulated bridging loans, rates will start from 0.81% for loans up to £1m, and 0.70% for loans beginning from £1m.
Variable rates for BTL products are priced from 8.54%, and homeowner business loans are available from 9.8%. For commercial term loans, rates start at 8.44%, and for semi-commercial term loans, 7.69%.
Unregulated residential bridging loans are priced from 0.87%, and unregulated commercial bridging loans start at 0.98%.
Tanya Elmaz, managing director of intermediary sales at Together, said: “We’re committed to delivering the best possible outcomes for both brokers and customers, and these rate reductions reflect that.
“By aligning our pricing with the Bank of England’s recent cut, we’re making our products more accessible and competitive. It’s another step in ensuring our partners can offer real value and flexibility to their clients, especially in a market that continues to evolve.
“For our valued intermediary partners, changes like this are essential to increasing the funding amounts that customers can borrow, helping to place more cases. We look forward to continuing to work with our broker partners, helping them secure the best solutions for their clients.”