Ryan Bembridge

September 11, 2017

Together has increased its pre-tax profit to £94.1m in 2017 – up from £90.3m in 2016.

In the process the lender increased the value of loans and advances by 24% to £2.24bn, up from £1.8bn last year.

Mike McTighe (pictured), group chairman of Together, said: “We further enhanced our position as one of the UK’s leading specialist secured lenders.”

Together saw originations average over £98.8m per month with average loan-to-value of new originations at 57.1%.

It also grew underlying profit before tax by 29.7% to £117.1m.

Over the period shareholders bought out a 30% equity stake held by Equistone Partners and Standard Life Investments to have 100% voting interest.

Pete Ball, personal finance chief executive of Together, said: “In the past 12 months we have expanded our nationwide presence and enhanced our product range to ensure we can help even more customers to access the finance they need.

“We’re thrilled to see the positive results this is yielding, as evidenced by the growth in our loan book and our strong financial performance.”

And Marc Goldberg, Together’s commercial chief executive, said: “Today’s results highlight our position as a leader in the specialist lending sector, and we have exciting plans for continued growth as we move forward.”

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