Together upsizes LABS securitisation facility to £1.2bn
The revolving securitisation facility is backed by existing lenders BNP Paribas, Lloyds Bank and National Westminster Bank.
Together has increased its Lakeside securitisation programme (LABS) from £1bn to £1.2bn, providing additional funding capacity for its bridging lending.
The revolving securitisation facility is backed by existing lenders BNP Paribas, Lloyds Bank and National Westminster Bank.
LABS primarily supports Together’s regulated and unregulated bridging lending and was originally launched in 2015 with a facility size of £255m.
It has since been increased on four occasions, most recently reaching £1bn in November 2024.
Chris Adams, chief financial officer at Together, said: “This further upsizing of LABS reflects the continued confidence of our long-standing banking partners in Together’s platform, performance and disciplined growth strategy.
“The increased facility provides additional capacity to support demand across our bridging products, while preserving the strong commercial terms and maturity profile of the programme.”
Related
Pallas Capital secures £200m funding line to accelerate growth
Together completes £350,000 second charge bridge in 18 hours
Together to host portfolio landlord webinar for brokers
BCRS Business Loans delivers £13m to 154 SMEs through CIEF
Dan Fyffe joins Hampshire Trust Bank as lending director for the South
Precise launches guide to bridging finance for intermediaries
Atom bank launches ‘Natural Capital’ proposition to unlock housing through habitat creation
Redwood Bank launches residential BTL bridging range
Longer bridging terms offer flexibility but add £14,000 in interest costs – Octane Capital
UTB cuts 2-year BTL rates by up to 0.50%
SDKA appoints Laura Perry as underwriter
