Classified as the first quarter of the lender’s 2025 financial year, this means the loan book has grown 14.7% from the first quarter of 2024 when it was £6.6bn.

However, average monthly lending of £269.3m over the reporting period was down slightly from the preceding quarter by 3.5%.

This was still 20.5% more than the average monthly lending amount in the first quarter of 2024.

Together’s management has also noted “some increases in arrears” and are continuing to manage these “carefully”.

More interest from the larger loan book has seen regular income increase by 3.7% in the preceding quarter to £214.5m.

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This has led to underlying pre-tax profits of £53.7m, up 1.3% from the preceding quarter and 12.6% more than the same period a year before.

Commenting on the results, Mike McTighe, chair of Together (pictured above), said originations for the lender had remained “robust” with over £1bn of facilities successfully raised or refinanced over the quarter.

“While inflation is now close to the Bank of England’s target and interest rates are continuing to reduce gradually, UK economic growth is forecast to remain modest,” added Mike.

“Against this backdrop and as evidenced by our recent residential property market report, we expect many more customers will be underserved by mainstream lenders and look to specialist lenders, like Together, for support.”