Specialist lender Together has announced its second month this year of providing short-term financing exceeding £100m.
The Cheadle-based company, which currently manages a group-wide loan book of over £6.2bn, facilitated these loans across 396 regulated and unregulated bridging transactions.
The combined average time taken to complete these loans during Q1 was 17 days for regulated bridging transactions and 29 days for unregulated ones. In comparison, the latest Bridging Trends data, covering Q4 of the previous year, reports an average completion time of 54 days.
“It’s an incredible achievement to lend over £100m in short-term finance for the second time this year,” said Marc Goldberg, group CEO of sales and distribution at Together. He attributed this success to the strong demand for bridging offerings from UK businesses, alongside Together’s firm commitment to provide the best possible outcomes for customers and exceptional service to its broker partners.
The latest lending figure of £106m is the highest since April when Together announced £115m worth of short-term lending in a single month. The news follows the company’s recent launch of a new second charge regulated bridge product, offering customers increased options for short-term finance, particularly for non-standard properties.
Jo Breeden, managing director of Crystal Specialist Finance, applauded Together’s success: “To surpass £100m in short term lending not just once, but twice in a single year is a testament to the work that Together do.”
