Together has announced the completion of its first small balance commercial mortgage-backed securitisation.

The £200 securitisation is made up of first and second charge mortgages backed against small value commercial, residential and mixed used properties in England, Scotland and Wales.

The lender says that this move increases the diversification of its funding streams alongside supporting the UK small businesses sector.

Together commercial chief executive Marc Goldberg adds: “This is our third successful public transaction since the pandemic began, following our £500m bond issuance in January and our £366m residential mortgage backed securitisation in July.”

And group chief executive designate Gerald Grimes says: “We are delighted to announce the successful completion of our £200 million small balance commercial real estate mortgage backed securitisation.

“The issuance adds further headroom as we continue to support UK businesses and shape our business for an exciting future.”