Auction FinanceBridging

Together reports record month for lending

Specialist finance provider Together completed £105m of new lending last month through a total of 697 loans across its entire range.

The lending was across all areas of the business,including first and second charges, bridging, auction finance and commercial loans.

Commercial CEO Marc Goldberg said: “This is our highest monthly lending in our 42-year history, and is a direct result of our commitment to the quality of our products and the dedication of our team, as well as our strong partnerships with our extensive network of brokers and introducers.

“Demand for bridging finance remained robust in this quarter, following an increase of nearly 65% in 2015, and our auction division saw a record number of transactions in March.

“This is testament to the speed of our service, which is essential in auction purchases where the tight deadlines may be difficult for a mainstream lender to meet.

“In our retail division, the Mortgage Credit Directive was implemented with a smooth transition to the new processes, working closely with our broker partners.

“Buy-to-let lending was also strong, fuelled in part by the April stamp duty hike.”

During the month Together was also granted full authorisation from the Financial Conduct Authority for second charges.

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