Average monthly loan originations skyrocketed to £226.8m, a staggering 132.5% increase from 2021’s £97.6m.

Monthly new lending exceeded £300m twice in the past year, with May and June posting £300.1m and £304.1m, respectively.

The lender’s net loan book grew by 30.8% to reach £5.2bn — a new high for Together — while the weighted average indexed LTV remained conservative at 51.5%.

Underlying profit before tax stood at £162.7m, an 8.7% rise on 2021.

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Gerald Grimes, group CEO designate at Together, commented: “Together delivered another very strong performance in the year to 30th June as we capitalised on our diverse proposition to increase lending to a wide range of customers.

“The UK’s economic outlook has become more uncertain as global supply chain disruption and rising inflation have led to a tightening of monetary policy and increasing interest rates.

“As a result of these headwinds, many more customers may find themselves underserved by mainstream lenders and look to specialist lenders to help them to solve problems and realise opportunities.

“With a multi-cycle track record, a clear purpose, our transformation programmes well underway, and strong diversified funding in place, Together remains well placed to help increasing numbers of customers realise their ambitions and to play our part in supporting the UK economy.”