Mike McTighe

Together increases loan book to £3.7bn

Specialist mortgage lender Together has revealed that it has increased its loan book to £3.7bn in its full-year results to 30th June 2019.

The group — which generated cash receipts of £1.6bn during the year — revealed that originations were up 19.4% to £2bn at conservative LTVs of 58%.

Profit before tax grew by 7.1% to £130.3m, with the net interest margin at 6.8%.

“Together delivered another solid performance during the year, with strong lending volumes at low LTVs driving continued growth in the loan book and increased profitability and cash generation,” said Mike McTighe, group chairman at Together (pictured above).

Marc Goldberg, commercial finance CEO at Together, added: “We achieved this growth across all of our products in commercial finance, with particularly strong increases in commercial term and unregulated bridging.

“During the year, we have further expanded our distribution, launching our Together+ platform for strategic packager brokers and our new corporate team for larger relationship-based customers.”

Pete Ball, personal finance CEO at Together, stated that the lender’s continued growth was testament to the success of its “unique model”.

“We have continued to build out our distribution, while increasing our product offering to packagers, networks and clubs.

“Looking ahead, we will increasingly focus on innovation through transforming and automating our systems to deliver positive customer outcomes.”

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