Investment case.
Exceptional track record
One of the UK’s leading non-bank relationship lenders, Together has a 50 year track record of success gained across multiple economic cycles since the group was founded in 1974.
Unique position in attractive growing markets
As the jobs we do, the properties we live and work in, and how we buy are changing, increasing numbers of customers are falling outside the highly automated and restrictive criteria of high street banks. Specialist lenders, like Together, are able to assess customers on a case-by-case basis, providing flexible finance options to meet their borrowing needs.
Independent economist market growth projections in Together’s 2024 Commercial Property Market Report (published in January 2024) forecast that specialist commercial lending will increase from £90bn in 2023 to £118bn in 2028.
Similarly, independent economist mortgage market growth projections in our 2024 Residential Property Market Report (published in October 2024), show the specialist residential mortgage market increasing by 70% from £23 billion to £54 billion over the next five years.
As one of the largest and most respected lenders in these markets, Together is well placed to benefit from these trends.
Established customer and introducer relationships
We have a diverse multi-channel distribution strategy, which operates within two broad approaches:
Direct: including digital, retention, corporate, developers, auction houses and affiliates
Indirect: including brokers and mortgage networks and clubs
Based on strong long-term relationships, no individual intermediary provides more than c. 7% of Together’s total run-rate annual new business volumes and the top 10 intermediaries represent only c. 20% of total volumes.
c. 50% direct originations.
Broad and flexible product offering designed to meet customers’ needs
Experts in property lending, we offer common sense solutions with speed and certainty to help individuals, families, later life customers, entrepreneurs, SMEs, businesses, landlords and developers to realise their property ambitions.
High quality secured loan book supported by a full-service platform
We have a high quality loan book diversified both by product and region, based on prudent loan to values (LTVs) and which delivers attractive margins. Our loan book is supported by an efficient full service platform with all underwriting, servicing and collections all conducted inhouse.
Strong diversified funding with depth of maturity
A repeat issuer in the public mortgage-backed securitisation and senior secured notes markets, Together has built a strong, diversified and flexible funding structure underpinned by over £1 billion of shareholder funds.
| Credit ratings | |
|---|---|
| S&P | BB |
| Fitch | BB |
Experienced management team with significant strength and depth
We have a proven management team with through-the-cycle-experience, gained both at Together and at other financial institutions, who operate formal committee structures run by experienced non-executive directors (NEDs) akin to a large listed company.
Clear strategy to deliver future growth ambitions
Our purpose driven strategy aims to deliver value and meet the needs and expectations of our stakeholders. Our current strategic priorities are:
- Continuing to grow a strong and sustainable loan book by supporting more customer through their life journey
- Maximising the benefits of our transformation programme to increase efficiency and create opportunities
- Delivering strong and sustainable profitability by leveraging our USP’s
- Reducing complexity by simplifying how we work
- Further investment in our people to attract, develop and retain top talent, aligned to our future strategic plans
- Delivering strategic capability to take advantage of opportunities and provide strategic optionality