LONDON - Together Financial Services Limited reported its loan book increased to £8.4 billion for the quarter ended March 31, 2026, up 7.6% from the same period last year and 2.6% from the previous quarter.
The UK specialist property finance provider reported average monthly lending of £309.9 million, up 24.9% from the third quarter of 2025. The weighted average origination loan-to-value ratio stood at 61.4%.
Underlying profit before tax reached £60.8 million, an increase of 5.7% from £57.5 million in Q3 2025 and up 2.5% from £59.3 million in the previous quarter. The underlying net interest margin was 5.4%, compared to 5.5% in the same period last year.
Interest receivable and similar income totaled £220.3 million, up 0.8% from the prior year quarter. The underlying cost-to-income ratio was 31.0%, compared to 30.4% in Q3 2025.
Arrears improved to 4.5%, down from 5.6% in Q3 2025 and 5.2% in the previous quarter. The annualized cost of risk was 0.92%.
The company reported cash receipts of £909.4 million during the quarter. The weighted average indexed loan-to-value ratio for the loan book was 56.1%.
Together completed several funding transactions, including pricing a £542 million Commercial Real Estate mortgage-backed security in May and issuing £300 million in second lien secured notes due 2032. The company also issued a £528 million residential mortgage-backed security in February.
The firm appointed Russell Anderson as Chief Strategy Officer and Richard Fearon as Non-executive Director during the quarter.
