Together Financial Services Limited has announced the successful pricing of its £378 million first charge only residential mortgage backed securitisation – Together Asset Backed Securitisation 2024 – 1ST1 PLC (TABS11).
There was a 1.08% weighted average cost of placed notes and a 94.9% advance rate.
In addition, 88.5% of issued notes are expected to be rated AAA(sf) by S&P and AAA(sf) by Fitch.
Mike McTighe (pictured), chairman of Together, said: “We are delighted to announce the successful pricing of our second RMBS this year, which will help us to support more residential owner occupier and buy-to-let customers in realising their ambitions.”
Gary Beckett, group managing director and chief treasury officer at Together, added: “Since the start of our financial year in July, we have now raised or refinanced over £3.2 billion across eight transactions as we continue to add depth of funding and maturity to support our lending ambitions.
“This highlights the strength of our business model, quality of our loan book and strong ongoing support from our investors.”