Flagship initiative reaches £1bn pipeline – a year after its launch
Together has announced it generated £1bn of applications through its flagship initiative.
The Together+ scheme was launched in January to build stronger relationships between the lender and a select group of specialist distributers by providing them with exclusive products, underwriting, sales and marketing support.
Nick Jones, the lender’s head of specialist distribution, said the scheme had been “hugely successful” in building up a pipeline of business worth £1.01bn since its launch, with £643.3m of conversions.
He said: “There’s been a lot of hard work throughout the year to build the proposition and further enhance relationships with key brokers to help them grow their business as we grow ours. We’ve focused on a group of firms – many which we’ve worked alongside for some time – and who have clients who are looking for the type of specialist finance products we offer.
“We have provided a bespoke service, including dedicated sales and underwriting teams, as well as marketing support designed to keep our partners and their clients engaged – and this has proved hugely successful.”
During the year, Together+ partners were given exclusive access to some of its products. These have included 12-month retained non-regulated residential bridging loans, fixed rate buy-to-let and consumer buy-to-let mortgages, and commercial and semi-commercial bridging products at a monthly rate of 0.85%
The lender also launched two dedicated Together+ underwriting teams and expanded its roving underwriting service and recruited two regional account managers, Paula Purdy and Marylen Edwards dedicated to supporting the Together+ partners.
Jo Breeden, managing director at Crystal Specialist Finance, a Together+ partner, said: “This is a fantastic initiative which has been great at raising the profile of the specialist lending sector. Our business has really benefited through our partnership, whether that’s through access to their underwriting team, new products or dual-branded marketing materials.”
Rob Jupp, CEO of Brightstar – another Together+ partner – congratulated the lender on its latest milestone. He said: “Building the pipeline of business to more than £1bn over the 12 months is really impressive. It’s testament to Together’s ability to nurture strong partnerships with specialist distributors and its success in providing great products to meet clients’ demands.”