Together grows loan book to £2.55bn

Specialist lender Together has announced that its loan book has reached £2.55bn.

In its quarterly results to 31st December 2017, Together reported a rise in average monthly loans, compared with the previous year, with November 2017 delivering the company’s highest ever lending month of £147.5m.

The lender also reported a 23.2% increase in originations, compared with the same period last year, while also maintaining a conservative weighted average origination LTV of 58.7%.

Underlying profit before tax was 6.1% higher than Q2 2017 at £31.5m.

“During the quarter we continued to enhance our platform to support our future growth ambitions, investing in our people, our brand, our products, our distribution and our systems,” said Mike McTighe, group chairman of Together (pictured above).  

“Our progress was reflected in a ratings upgrade from S&P in November and this momentum continued into January with a further upgrade from Fitch, the refinancing of our Lakeside securitisation facility on favourable terms and our successful £150m bond tap.”

Marc Goldberg, commercial CEO at Together, added: “This is another great set of results and a testament to the hard work and commitment of our team of almost 650 colleagues as we continue to grow our business by making commonsense lending decisions to help our customers access the finance they need.”

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