Together has priced its first £318m residential mortgage backed securitisation of first-charge loans.

The portfolio is made up of a portfolio of owner-occupied and buy-to-let residential mortgages, secured against properties in England, Wales and Scotland.

The Cheadle-based specialist lender has raised or refinanced more than £1.9bn since the beginning of this year to support its lending.

Together personal finance chief executive Pete Ball says: “This is our seventh mortgage-backed securitisation since 2017 but our first consisting only first-charge mortgages.

“It will give us additional headroom to increase our residential lending as we continue to shape our successful business for the future.”

The firm has a loan book of around £4bn, which it says provides commercial finance, as well as personal mortgages and secured loans for borrowers who may not be able to access finance through mainstream lenders.

Ball adds: “The Covid-19 pandemic will undoubtedly have had an impact on the finances and property aspirations of many potential borrowers.

“However, we believe that this shouldn’t mean that they should be locked out of the mortgage market.

“Our latest securitisation will allow us to provide finance to more of the UK’s underserved borrowers, to help them to achieve their residential property ambitions.”

Together posted record monthly lending since the start of the first UK lockdown of £190.3m in the quarter to June. The group’s average monthly lending was up 17.1% in the three months to June compared to the previous quarter.

The firm will release its full-year results on 16 September.