The lender said this marked a positive start to the year and a record total for the first quarter. In total, Together lent more than £71m in auction finance from January to March. This also beat its previous record of £30m lent in October last year.
Scott Hendry, director of auction finance at Together, said: “These results are a testament to the incredible work of our dedicated auctions team at Together.
“They truly embody the mentality of our company, working tirelessly to help our customers achieve their property ambitions.”
He added: “The property market is facing numerous challenges right now, whether it be from stamp duty, regulation changes or the impact of global challenges. To see positivity like this is excellent, and we hope it will translate to the wider sector.”
Recent data from Essential Information Group (EIG), which tracks the performance of the auction market, showed that the number of lots offered was 5.6% up annually. However, the number of lots sold fell slightly by 0.5%, while the overall success rate declined by 68.2%.
Aldermore Insights with Jon Cooper: Edition 4 – Budget 2025: Landlords feel the heat, brokers to steer the market
Sponsored by Aldermore
Despite this, there was a small increase in the total raised, rising by 1.4% to £479.6m, which indicated solid pricing in the sector.
David Sandeman, managing director at EIG, said: “While buyer caution remains a factor, March still delivered a steady performance as the market edged toward the financial year end.
“The continued growth in capital raised, despite a softer success rate, highlights underlying confidence and an appetite for well-priced stock, particularly in the residential space.
“It’s encouraging to see lenders like Together contributing to this momentum with record auction finance figures.”
