Together has doubled the size of a longstanding securitisation deal to £400m, which will support the specialist loan firm’s unregulated bridging lending.

The Cheadle-based firm says it has boosted the size of its Delta Asset Backed Securitisation 2 limited facility (DABS) sold to investors from £200m to £400m.

It adds the package has also been extended to December 2025 “with improved commercial terms reflecting the continued strong performance of the assets which support the facility”.

The DABS package was originally launched as a £90m facility in 2017 before being refinanced and increased to £200m in 2019.

The lender says the current £400m refinancing, which sees two additional funding partners added to the facility, “provides greater lending flexibility”.

The company says it has a diverse funding structure that includes six public securitisations, five private securitisation facilities, two series of senior secured notes and a revolving credit facility.

Over the last 12 months, it has raised or refinanced over £2.3bn across eight transactions.

Together Group chief executive designate Gerald Grimes says: “We are delighted to announce the successful refinancing and upsizing of our facility for unregulated bridging loans as we continue to shape our business to help increasing numbers of customers realise their ambitions.”

Together group managing director and chief treasury officer Gary Beckett adds: “The DABS facility forms an integral part of our diverse funding platform, with the refinancing adding further liquidity and depth of maturity to our structure.

“In the last twelve months Together has raised or refinanced over £2.3bn across eight transactions demonstrating the continued strong support from our funding partners as we continue to successfully grow the business.”

Last month, the firm increased maximum loan sizes across its unregulated bridging and buy-to-let ranges.

It raised the maximum amount on its bridging products from £2m to £5m “as it seeks to further grow its loan book post-pandemic”.

The business added the maximum loan sizes for its first charge buy-to-let products had been lifted from £2m to £2.5m, and from £500,000 to £1m for its second charge BTL loans.