Together achieves £1bn of lending in 2016
Together’s annual lending topped £1bn in 2016 – a 39.5% rise on the previous year.
In the process the specialist lender made £90.3m profit, an increase of 20.8% from 2015.
Mike McTighe, group chairman at Together, said: “These record results affirm the positive position the business is in. Trading has remained strong; both in terms of financial performance and new origination levels, with credit quality remaining robust. We have also made good progress against our strategic priorities in governance, including a number of key senior management appointments, IT and reporting.
“We believe we have a strong competitive advantage and are excited about the future. We are confident about the opportunities in the specialist finance sector and we have the financial capability to support our ambitious growth plans.”
Together’s loan book grew by £377.2m to stand at more than £1.8bn; an increase of 26.5%.
The lender’s average loan-to-values stood at 52.6%.