Membership News
Membership News Together posts record-breaking bridging lending
Rebrand and next generation broker portal at Landbay
Together has announced it has generated more than £103 million in short-term commercial finance in just a month. The NACFB Patron’s latest figures reveal it provided more than 260 bridging loans worth £103.6 million in April – a 17% increase on its previous record of £88 million set in July 2021.
Landbay has revealed a new brand with the launch of its next generation broker portal. The rebrand is a step away from the buy-to-let sector’s traditional look and feel – and the brand line, ʻYour lending partner’ reflects the trusted relationships the NACFB Patron has with both intermediary partners and borrowers.
Together provides regulated and unregulated bridging finance as well as commercial and residential mortgages and has a loan book of more than £4.4 billion. A spokesperson said the record lending was, in part, because of a number of “larger loans” – worth £5 million and above – during the period and an increased use of technology speeding up transactions.
The lender recognised that to provide a better level of service – one that allows brokers to have direct access to underwriters and a fast turnaround at scale – it would have to rethink and redesign the industry’s default approach to case management. Jays Shortt, chief product officer explained that the portal’s design required extensive user research to make it both fast and easy for brokers to submit applications and receive decisions. As such, all systems are now built and maintained in-house, involving users throughout the development process, creating tools to meet their exact needs.
Commenting on the announcement, Sundeep Patel, director of sales at Together, said: “The demand for short-term finance is continuing to soar across the industry, despite continued global uncertainties and financial pressures on individuals and businesses post-COVID. Our latest lending figures certainly reflect this.” Together is currently reporting that it has the largest loan book in its 50-year history, rising application numbers as well as a strong pipeline for unregulated bridging products. Recently the lender has also made technological advances to use an automated valuation model for over 70% of its loans. 12 | NACFB
John Goodall, CEO at the NACFB Patron, commented: “The launch of the new broker portal is a milestone we’re exceptionally proud of. Our new brand supports this leap in technology and service, signalling a new chapter for Landbay.” Jays attributed the success of the portal to the amount of quality work demonstrated by the Landbay team.
