Together's loan book reaches £4.4bn

Together has seen its group loan book grow to £4.4bn in the quarter ended 31st December 2021 (Q2 2022).

This is a 4.6% increase on the previous three months, and a 13.8% rise compared to the £3.9bn loan book registered in the same period last year.

The lender’s average monthly lending volumes also saw a 11.7% quarterly increase to £200m, with originations in November and December exceeding £200m and rising above pre-pandemic levels.

Weighted average origination and indexed LTVs remained conservative at 61.4% and 51.6%, respectively.

Overall, its underlying profit before tax grew by 10.8% to £43m when compared to £38.8m in the previous quarter.

Gerald Grimes, group CEO designate at Together (pictured above), said: “In line with our growth strategy, we have raised or refinanced £900m across three transactions since September, adding to the diversity and maturity of our funding structure. 

“Most recently, we refinanced and doubled the size of our Delta ABS facility for unregulated bridging loans from £200m to £400m

“Although the UK economy is continuing to recover at a rapid rate, it is likely that consumers will be impacted by rising inflation, higher interest rates, and fiscal changes. 

“While economists are forecasting a slowdown in economic growth in 2022, Together remains well placed to help increasing numbers of customers realise their ambitions and to play our part in supporting the UK’s economic recovery.”

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