Together has completed the pricing of a £562.9 million residential mortgage-backed securitisation, marking its second RMBS transaction of 2026 and extending a funding programme that has raised or refinanced more than £1.9 billion this year.

The specialist lender announced the successful pricing of TABS16, a first charge-only residential mortgage-backed securitisation backed by a portfolio of owner-occupied and buy-to-let mortgages secured against residential property in England, Scotland and Wales.

The transaction has a weighted average cost of placed notes of 0.94% and an advance rate of 95%. Around 90% of the issued notes are expected to be rated AAA(sf) by both S&P and DBRS.

TABS16 refinances assets that currently form part of Together’s £1.2 billion Kingsway facility, as well as the group’s senior secured notes.

The latest issuance adds to Together’s existing funding platform, which includes 12 public mortgage-backed securitisations, eight private securitisations, senior secured notes and a banking syndicate revolving credit facility.

Richard Rowntree, group CEO at Together, said: “We are delighted to announce the successful pricing of our latest RMBS, the £562.9m TABS16.

“By maintaining strong access to funding, we can continue to provide the flexible, common-sense lending solutions that help to give people a fair chance to turn their home ownership ambitions into reality.”

Gary Beckett, group managing director and chief treasury officer at Together, added: “Since January, we have raised or refinanced more than £1.9 billion across four transactions, maintaining strong momentum across our funding programme.

“The successful pricing of TABS16 reflects the quality of our loan book and highlights the continued confidence and support of our investors, positioning us well for future growth.”

BNP acted as arranger and joint lead manager, alongside Lloyds, Natixis, Wells Fargo and Barclays as joint lead managers.