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Together sees ‘strong’ Q1 as lending rises 28 per cent

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  • 28/11/2019
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Together sees ‘strong’ Q1 as lending rises 28 per cent
Together said “strong” new lending over the past year has driven its loan book to a high of £3.9bn for the three months ended 30 September 2019.

 

The lender generated originations of £2.1bn over the last 12 months, at average loan to values (LTV) of 58 per cent. 

Together’s new lending during the period averaged at £176.2m per month, a 28.1 per cent increase on £137.5m average seen during the same period last year. 

The group’s underlying profit before tax increased 13.6 per cent from £30.4m to £34.5m as the lender generated cash receipts of £437.6m. 

Mike McTighe (pictured), group chairman, said: “Despite the macroeconomic uncertainty, we continue to see strong demand from our customers. 

“We believe the group remains well placed to deliver on its growth plans, underpinned by our robust asset quality, strong diversified funding base and through-the-cycle experience.” 

 

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