Together loan book reaches £3.9bn
Marc Goldberg, Together

Together loan book reaches £3.9bn

Specialist lender Together has increased its loan book to a new high of £3.9bn in the three months ended 30th September 2019.

During the quarter, Together averaged new lending of £176.2m per month, up 28.1% on the same period in 2018.

It also generated originations of £2.1bn over the past 12 months

The lender has further extended its distribution, signing up four more mortgage networks and clubs and widening its digital sales channel.

Marc Goldberg, commercial finance CEO at Together (pictured above), stated that strong demand for its products during the quarter continued into October, when it achieved “record monthly lending of £207m”.

“We have further extended our distribution capability, including strengthening our corporate team, which focuses on larger, relationship-based customers, and expanding our digital sales channels.

“We have also continued the success of our Together+ partnerships, passing £1bn in applications since the beginning of the calendar year, and we are excited to be launching Together+ to networks and clubs in 2020.

“Our continued success would not be possible without the hard work and dedication of all of our colleagues in seeking to deliver positive end-to-end journeys for our customers and intermediaries.”

In October, Together completed a £332m RMBS, and increased its revolving Lakeside securitisation to £500m.

The lender posted an underlying profit before tax of £34.5m, as the group generated cash receipts of £437.6m during the quarter.

Mike McTighe, group chairman, added that despite the macroeconomic uncertainty, it continued to see “strong demand” from its customers and believed the group remained “well placed to deliver on its growth plans, underpinned by our robust asset quality, strong diversified funding base and through-the-cycle experience.”

Earlier this month, Together introduced eTech BTL hub technology to its broker network, and Pete Ball, personal finance CEO at Together, said it would continue to focus on innovation through transforming and automating its systems to deliver positive customer outcomes.

“We remain committed to proactively engaging with customers to enhance our service offering and product range, and to investing in our colleagues, whom I wish to thank for their ongoing commitment and hard work.”

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