Together achieves £115m of bridging loans in a single month

Cheadle-based specialist lender, Together, has revealed it lent more than £115 million in short-term finance in a single month across its commercial business in March 2023.

The total is the highest figure for a single month in 49 years, and represents an 8.5% increase on the previous £106 million record set in May last year.

Across the business as a whole, March saw £256 million lent to both commercial and personal finance customers, highlighting Together’s strong contribution to both its customers and the UK property market. The specialist lender has a group=wide loan book in excess of £6 billion, with new originations in March across its product portfolio, including buy-to-let, commercial mortgages, development finance and consumer lending products across the first and second charge market in addition to short-term bridging loans.

Marc Goldberg, Commercial CEO at Together, said:

“We are proud today to announce record lending in March for our bridging loan offering, highlighting that there is a huge demand from businesses across the UK for specialist short-term finance to meet their ambitions.

“These latest lending figures mark an incredibly important milestone for us, and one which we couldn’t have achieved without the amazing dedication and support of our colleagues, who have all played their part in the success, enabling us to deliver to both our business partners and our customers.”

He said the “outstanding” performance was due to the speed and service we provide, together with the knowledge and experience of the group’s 750 employees, and “focusing on the right customer outcomes” to deliver finance in clients’ timeframes, with “common sense at the heart of everything we do”.

Strong relationships with its business partners and through the support of its solicitor panel, enabled the business to offer a best in class customer journey, and a unique offering in the market. It has invested in increased automation across its back office functions, to improve the business’s processes, and streamlined its underwriting teams, a key factor in driving Together’s lending success.

Mr Goldberg added:

“Providing access to finance for companies and investors is crucial for the country’s future prospects. Hopefully in the next few months we will begin to see the green shoots of recovery start to grow after what has been a tough winter. As a well-capitalised business, we’re in a very strong position to help more customers, as the UK continues its economic recovery.”