Together reveals bumper lending as loan book hits £2.55bn

by:
  • 22/02/2018
  • 0
Together reveals bumper lending as loan book hits £2.55bn
Specialist lender Together has reported record lending volumes, as its loan book reached £2.55bn in the three months to 2017.

 

 

Monthly loans grew by almost a quarter year-on-year and November delivered the company’s highest ever monthly lending of £147.5m, Together announced in quarterly results to 31 December.

Over the three months there was a 23.2% increase in originations compared with the same period a year earlier with an average origination loan-to-value of 58.7%.

The lender reported underlying profit before tax at £31.5m, with cash receipts of £299.5m in the quarter.

Group chairman Mike McTighe (pictured) said: “During the quarter we continued to enhance our platform to support our future growth ambitions, investing in our people, our brand, our products, our distribution and our systems.

“Our progress was reflected in a ratings upgrade from S&P in November and this momentum continued into January with a further upgrade from Fitch, the refinancing of our Lakeside securitisation facility on favourable terms and our successful £150m bond tap.”

Marc Goldberg, commercial chief executive at Together added: “This is another great set of results and a testament to the hard work and commitment of our team of almost 650 colleagues as we continue to grow our business by making common sense lending decisions to help our customers access the finance they need.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in