Together posted average monthly lending of £283.2m in the final three months of the year, up 21.6% on a year ago, and expects a better 2025 “driven by higher consumer and government spending”.
The specialist property lender’s loan book rose 13.2% to £7.7bn in 2024 over the last 12 months, it added in a trading statement for the quarter to the end of December.
It declared a £48.3m pre-tax profit, up 1.3% on a year ago.
In the period, Richard Rowntree (pictured) joined the business as group chief executive from Paragon Bank in September, and it promoted John Barker to chief executive of Personal Finance and Chris Adams to chief financial officer in October.
In November, the firm boosted its LABS securitisation facility to £1bn from £825m and extended the maturity to 2028.
Rowntree said: “Looking forward, the UK economy is expected to perform better in 2025, driven by higher consumer and government spending and a continued reduction in interest rates, although the pace at which rates fall may be limited by persistent inflation.”
