You are here: Home - News -

Together founder Henry Moser falls 12 places on UK Rich List

by:
  • 08/05/2017
  • 0
Henry Moser, the majority stakeholder of specialist lender Together, has dropped 12 places in the Sunday Times Rich List despite maintaining the same level of wealth as last year.

According to the annual survey of the top 1,000 richest people in the UK, Moser and family have amassed a fortune of £600m and ranked 209 on the list. Last year, the family ranked 197.

Moser began his career in finance selling cars with his business partner Barrie Pollock in the 1970s. In 1974, he set up a mortgage lending company which has now evolved into the Cheadle-based specialist lender Together, formally known as Blemain Group, which has a loan book of £725m.

According to The Sunday Times, Together’s parent company Jerrold Holdings made £90m profit in 2015-2016. Moser owns a 70% stake in the firm, after selling 30% in 2016 for £113.5m to a private equity firm.

To pave the way for the next five years, Together secured a £90m credit facility from Goldman Sachs to help boost its bridging activity.

The firm lent a total of £572.3m of bridging finance in the 12 months to 30 September 2016. Across the group, annual lending topped £1bn for the first time in the company’s 42-year history.

Brothers Sri and Gopi Hinduja topped the UK rich list once again with a fortune of £16.2bn, amassed from industry and finance, up £3.2bn on last year.

Bankers Sir David and Sir Frederick Barclay are in 15th place with £7.2bn and Sir Richard Branson and family are in 23rd place, down from 19th last year with almost £4.9bn.

Property remains one of the most cited sources of wealth with 15 mentions in the top 50 entries.

There are 0 Comment(s)

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions

Read previous post:
A tablet with the words 'property value' written on it with a breakfast table in the background
BTL portfolio rules: ‘Tell us by the summer’- what brokers want to know

Brokers are calling for lenders to publish their portfolio lending criteria by the summer, two months ahead of the 30...

Close