The securitisation is supported by a portfolio of first and second charge mortgages and is secured against “small-value commercial, residential and mixed-use properties” located in England, Wales and Scotland.
Around a third of the underlying borrowers are self-employed and the securitisation complements the group’s 12 existing public mortgage-backed securitisations, seven private securitisations, senior secured notes and revolving credit facility.
Gary Beckett, group managing director and chief treasury officer at Together, said: “We are delighted to announce the successful pricing of our latest small-balance commercial real estate MBS, the £522.2m, CRE5, which will further increase our support for UK SMEs.
“Issuing two public MBS transaction[s] and two private transactions in the space of two months, Together will have raised or refinanced £2.4bn since the start of the calendar year, highlighting the quality of our loan book and the ongoing support from our investors.”
Earlier this year, Together priced a £276.8m second charge-only residential MBS and split its CABS facility into a duo of warehouse facilities worth £1.59bn.
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The lender also reported net loan book growth of £7.7bn in 2024, which is 13% up year-on-year.
