Together has lifted its revolving Lakeside securitisation programme to £1bn from £825m.

The lender added the maturity of the package has been extended to November 2028, in a market statement.

It pointed out that its commercial terms have been improved, without adding further detail and that an unnamed new bank has been added to the facility.

Together says its Lakeside securitisation, which primarily supports the group’s unregulated and regulated bridging lending, was first launched in 2015 as a £255m revolving securitisation facility.

The facility has since increased to £500m in 2019, £700m in 2022 and was raised again to £825m in 2023.

Together group managing director and chief treasury officer Gary Beckett said: “The completion of yet another successful upsizing of our Lakeside securitisation, on improved commercial terms, reflects the continued strength of Together’s business and the long-term support of our funding partners.

“The refinance adds further liquidity and depth of maturity to our funding structure as Together continues to help increasing numbers of customers to realise their property ambitions”

The business pointed out that it has twelve public and six private securitisation facilities, two series of senior secured notes and a revolving credit facility.

It has raised, or refinanced, over £3.3bn of facilities across seven transactions this year.