Together Financial Services Limited has reported a further quarter of growth, with lending volumes and its loan book reaching new highs despite continued macroeconomic uncertainty.
The specialist lender said average monthly lending rose to £309.9m in the three months to 31 March 2026, up 24.9% on the previous quarter and 3.1% higher than the prior period. This supported a 2.6% quarterly increase in its net loan book, which reached £8.4bn.
The group maintained a relatively conservative risk profile, with weighted average origination loan to value at 61.4% and an indexed LTV of 56.1% across the book. Arrears also continued to improve, falling to 4.5% from 5.2% in the previous quarter.
Financial performance remained steady, with interest income of £220.3m for the period and an underlying net interest margin of 5.4%. Underlying profit before tax increased to £60.8m, up 2.5% quarter-on-quarter, while the cost to income ratio remained low at 31.0%.
Richard Rowntree, group chief executive officer at Together, said: “We are pleased to report that we have maintained our positive momentum during the quarter, as we delivered record results and made good progress with our transformation agenda.
“Record originations drove our loan book to a new high of £8.4bn, while underlying net interest margin remained attractive at 5.4% and we increased underlying profit before tax to £60.8m.
“Our new technology and data platform is progressing at pace, we have continued to enhance our operational capabilities, and our head office transformation is well on track to be completed during the summer.
“We have also further strengthened our Board and leadership team with strategic appointments and maintained our funding momentum during the quarter.
“Looking ahead despite ongoing macroeconomic pressures, including the conflict in Iran, and pockets of market uncertainty, the structural drivers underpinning specialist property finance remain compelling and we are seeing a continued flight to quality.
“With our scale, track record and resilience, Together remains well placed to support our customers in achieving their property ambitions and to generate long-term value for all our stakeholders.”
FUNDING AND MARKET POSITION
The lender said it continued to make progress on its wider transformation programme, including investment in technology and data infrastructure, alongside operational enhancements.
It also highlighted ongoing strength in funding, with momentum maintained through the quarter, supporting continued lending growth.
The update comes against a backdrop of wider market uncertainty, including geopolitical pressures and fluctuating financial markets, although Together pointed to ongoing demand for specialist finance and what it described as a “flight to quality” among borrowers.
