Together posts 27% loan book growth

Together has announced that its loan book reached a new high of £3.01bn at 30th September 2018, up 27.1% on the same period last year.

The specialist lender announced its quarterly results which revealed that its loan book was also up 1.8% on the £2.96bn reported in June 2018.

The results also highlighted that average monthly loan originations had reached £137.5m, up 9.7% compared with the same period last year.

Meanwhile, the average LTV of new originations in the quarter remained conservative at 58.1%, slightly higher than the 56.8% reported in June 2018.

Mike McTighe, group chairman at Together, said it had maintained its strong growth momentum.

“As Brexit negotiations enter a crucial phase, the UK’s economic outlook remains uncertain with a number of contradictory indicators.

“Despite these uncertainties we continue to see strong demand from customers with record levels of originations in October of £170.9m, and along with our recent work to increase and extend our funding lines, we believe Together remains well placed to deliver on our ambitious growth plans.”

Marc Goldberg, commercial CEO at Together, added that it was proud to deliver a strong set of results.

“The success and continued growth of our business is a great testament to the hard work and dedication of our colleagues, who remain focused on our mission of helping customers achieve their financial ambitions.

“We look forward to building on the strong momentum as we enter the next stage of our exciting future.”

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