Specialist lender breaks £100m loan barrier for second month this year
Cheadle-based specialist lender, Together, has exceeded £100m of monthly support for a second time this year.
It revealed it loaned more than £106m in short term finance across the business last month (June).
It is the highest figure in monthly lending since April, when Together announced £115m-worth of short term lending in a single month.
The lender, which has a group-wide loan of more than £6.2bn, originated new lending across 396 regulated and unregulated bridging transactions, highlighting its strong support of the UK property market.
The combined average time taken for Together to complete these loans in the first quarter of the year was 17 days for regulated bridging transactions and 29 days for unregulated bridging transactions. This compares with an average of 54 days, according to the latest Bridging Trends data.
Marc Goldberg, group CEO of sales and distribution, said: “It’s an incredible achievement to be able to say that for the second time this year, we’ve lent over £100m in short term finance.
“Despite the current economic climate, these figures prove that there is still a huge demand from businesses across the UK for bridging offerings to help people achieve their ambitions.”
