Together hits record £8.4bn loan book

Together has seen its loan book reach a record £8.4bn in the three months to 31 March, marking a 7.6% year-on-year increase.

The specialist lender stated that this increase was driven by high demand in its financial products, including personal mortgages, bridging loans, commercial loans and buy-to-let mortgages.

In this period, Together recorded profits of £60.8m, while its average monthly lending increased by nearly 25% year-on-year to £309.9m.

Furthermore, the group delivered its highest-ever monthly lending, with £328.9m completed in March despite turbulence in the UK and global economy.

The update comes as Together is currently developing a new multi-million-pound technology platform to improve its operational capabilities to driving further growth, as well as undergoing a refurbishment project at its Cheadle headquarters.

Group chief executive officer at Together, Richard Rowntree, said he is pleased that the firm has maintained its positive momentum during its record-breaking quarter.

He concluded: "Our new technology and data platform is progressing at pace, we have continued to enhance our operational capabilities, and our head office transformation is well on track to be completed during the summer. We have also further strengthened our board and leadership team with strategic appointments and maintained our funding momentum during the quarter.

"Looking ahead despite ongoing macroeconomic pressures, including the war in Iran, and pockets of market uncertainty, the structural drivers underpinning specialist property finance remain compelling and we are seeing a continued flight to quality."



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