You are here: Home - News -

Together founder Henry Moser falls 12 places on UK Rich List

  • 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

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...