Specialist lender’s end of year results show loan book growth to £5.2billion

Together, one of the UK’s leading specialist mortgage and secured loan providers for businesses and individuals has announced its results for the year to 30 June 2022.

The group, which is based in Cheadle, Greater Manchester, has seen a 30.8% increase in its net loan book from £4billion last year to £5.2billion.

Average monthly lending increased from £97.6million last year to £226.8million, a huge growth of 132.5%. The financial provider’s new lending exceeded £300million in May, growing to £304.1 in June. Overall, the group’s underlying profit before tax increased by 8.7%, from £149.7million to £162.7million.

Gerald Grimes, Group CEO Designate at Together said: “We’ve delivered another very strong performance this year; achieved in a controlled and sustainable way and in line with our strategy.

“With the UK’s economic outlook becoming more uncertain, many more customers may find themselves underserved by mainstream lenders  and turning to specialist lenders such as ourselves to help solve problems and realise opportunities.

“Together remains well placed to help increasing numbers of customers to realise their ambitions and to play our part in supporting the UK economy.”

Mr Grimes also added that Together has “developed a comprehensive ESG strategy”, recognising the importance of the group’s environmental and social responsibilities and publishing the group’s first Sustainability Report setting out its approach to sustainability. Together has identified targets and measures for four key priority areas; our planet, our customers, our colleagues and our community, which are all underpinned by strong governance. In addition, Together has devised a Diversity and Inclusion strategy, committing to targets focused on gender, age, ethnicity and disability to be reached by 2026.

He added: “Overall, we continued to make great progress in implementing our strategic agenda to deliver transformational change, drive efficiency benefits and further enhance the experience for all our customers and create an agile and rapidly scalable platform to set the business up for the next phase of its growth.”