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Together experiences best month for lending in 42-year history

  • 19/04/2016
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Together experiences best month for lending in 42-year history
Specialist lender Together experienced its busiest month for lending in its 42-year history in March, with an upswing across its loan book.

The finance provider confirmed £105m in new lending completions last month, with a total of 697 loans across its range of products, which includes first and second charge mortgages, short-term finance, auction finance and commercial loans.

Together chief executive, Marc Goldberg (pictured), said the demand followed a strong year in 2015 for the lender.

“Demand for bridging finance remained robust in this quarter, following an increase of nearly 65% in 2015, and our auction division saw a number of transactions in March.

“This is testament to the speed of our service, which is essential in auction purchases where the tight deadlines may be difficult for a mainstream lender to meet.”

He said the Mortgage Credit Directive was implemented with a smooth transition to the new processes, as the firm worked closely with broker partners, and that buy-to-let lending was strong, fueled in part by the stamp duty hike on 1 April.

The business increased its Charles Street securitisation programme to £1bn, with further investment from several major banks, enabling it to meet demand.

In March, Together received full authorisation from the FCA for its second charge mortgage business.

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