Together Financial Services has successfully increased its revolving Lakeside securitisation programme (LABS) from £700m to £825m.

The LABS facility finances primarily unregulated and regulated bridging loans originated by Together and first launched in 2015 as a £255m revolving securitisation facility.

The facility was increased to £500m in 2019 and then to £700m in 2022.

Over the past 12 months Together has raised or refinanced over £2.4bn of facilities across six transactions, including private and public securitisations, as it continues to diversify and extend it funding profile to support growth ambitions.

Together recently announced its results for the quarter to end of March 2023, showing a 29.1% increase in its’ loan book (compared with third quarter 2022) to £6.2bn and underlying profit before tax for the quarter of £41.3m.

Together group managing director Gary Beckett comments: “The successful upsizing of our LABS securitisation is a testament to the continued strength of Together’s business and, in particular, the strong performance of our regulated and unregulated bridging products.”