Together Financial Services Limited has launched a new £467.4 million, Fairway Asset Backed Securitisation 1 Limited (FABS) facility.
It is its inaugural warehouse facility for first charge owner occupied and buy-to-let loans secured against residential property in England, Scotland and Wales.
The scheme is closely aligned to Group’s residential mortgage backed securitisation (“RMBS”) programme, providing additional funds to support property investors and home owners
The facility matures in 2026.
Gerald Grimes, group CEO designate of Together, said: “We are excited to announce the successful launch of our FABS securitisation warehouse. This new facility will provide additional funding to help our residential owner occupier and buy-to-let customers realise their ambitions in the current challenging economic environment.”
Gary Beckett, group managing director and chief treasury officer of Together, added: “The launch of our FABS facility provides further depth to our funding profile and continues to underline the strength and resilience of Together’s business model.
“As part of this facility, we are pleased to welcome a new funding partner to the Group and I would like to thank all of our banks and investors for their continued support.”
