Together has increased its Lakeside securitisation programme (LABS) from £825m to £1bn.
The programme, first launched in 2015 as a £255m revolving securitisation facility, primarily supports the group’s unregulated and regulated bridging lending.
The facility increased to £500m in 2019, £700m in 2022 and £825m in 2023.
Gary Beckett, group managing director and chief treasury officer of Together, said: “The completion of yet another successful upsizing of our LABS securitisation, on improved commercial terms, reflects the continued strength of Together’s business and the long-term support of our funding partners.
“The refinance adds further liquidity and depth of maturity to our funding structure as Together continues to help increasing numbers of customers to realise their property ambitions.”
Together has raised or refinanced over £3.3bn of facilities across seven transactions.
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Last month, the lender delivered a record £319m in auction finance lending, exceeding its growth targets.
