This was also a 0.7% lift on the previous quarter’s loan book of £7.7bn.
The lender said this growth was achieved at low-loan-to-value (LTV) tiers, as the average origination LTV was 58.8%, slightly down from 59.6% last year and 59.8% in the previous quarter.
Further, Together’s average weighted LTV was relatively flat at 55.3%, compared to averages of 55.2% during both the previous quarter and the year before. Its arrears rate reduced marginally from 5.7% to 5.6% quarterly.
Although it reported a larger net loan book, Together reported that its average monthly lending fell 5.5% on the previous year to £248.1m, and was 12.4% down on the quarter before.
The group’s net interest margin was stable at 5.5%, while its interest receivable and similar income rose 11% annually to £218.5m. This was flat on last year.
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The group said it remained “highly profitable and cash generative”, with an 11% yearly growth in its underlying profit before tax, which came to £57.5m. This was 3.2% higher than the last quarter, which Together attributed to a rise in net interest income during the period.
Richard Rowntree, group chief executive of Together, said: “Together delivered another strong performance during the quarter, with the loan book reaching £7.8bn, net interest margin remaining highly attractive at 5.5%, net interest income up 13% and underlying profit before tax up 11% on the same quarter last year.
“We successfully raised or refinanced £2.5bn across five transactions during the quarter, as we continued to broaden our funding and raise additional liquidity to support our growth ambitions. Our transformation programme is progressing through the build phase and our pipeline is up 21% compared with Q2 2025, indicating continued robust demand for our products.”
He added: “Looking forward, the outlook for the UK economy is mixed, with easing inflation and expectations of further interest rate cuts offset by global economic uncertainty due to trade tensions and tariff wars. However, Together has a successful multi-cycle track record and long-term structural trends support an increase in demand for specialist lending solutions.
“Against this backdrop, we remain cautiously optimistic and will continue to help customers realise their property ambitions, as we have for the last 50 years.”
