Together announces results for quarter ending 31st March 2025

Cheadle-based specialist lender, Together, has announced its results for the quarter ending March 31st 2025.

The quarter has seen the non-bank property lender continue to grow its loan book, which now totals £7.8 billion, up 10.3% on last year. Average monthly lending has slowed, however, to £248.1 million, down 5.5% on the same quarter last year, and 12.4% on the previous three month period.

The quarter has also seen Together raise of refinance £2.5 billion across five transactions, as well as secure awards for ‘Specialist RMBS Issuer of the Year’ at Global Capital European Securitisation Awards (Mar‘ 25) and ‘Best Use of AI and Automation Award’ at CCA Global Excellence Awards 2025 (Apr ’25).

Overall, the business remains highly profitable, with profit before tax of £57.5 million for the quarter, up 11% on the same period last year.

Commenting on the results, Richard Rowntree, Group Chief Executive Officer 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 ’25, indicating continued robust demand for our products.

“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.”