Council membership grows as Together brings first- and second-charge expertise to later life lending
Specialist lender Together has joined the Equity Release Council, bringing more than 50 years of secured lending experience to the UK trade body's membership of more than 800 firms. The move comes as later life lending activity returns to growth following a slower start to 2026.
Together provides first charge, second charge and bridging finance, including products for customers aged 55 and over, according to a company statement.
Market activity picks up in second quarter
Total equity release lending rose to £597 million in the second quarter of 2026, up 4% on the previous quarter. Overall customer numbers also increased 4%, to 13,489, with new customers accessing housing wealth for the first time up 9% to 5,307, returning to the level recorded a year earlier.
Existing customers stayed active too: further advance numbers rose 12% to 1,204, while returning drawdown customer numbers held broadly stable, easing 1% to 6,978.
Why brokers should watch the later life lending market
Together's move signals growing lender appetite for the later life lending market. As the client base ages, brokers who can navigate equity release products alongside mainstream mortgages stand to serve a broader range of needs.
Later life lending has attracted increased lender and adviser attention across the UK. Equity release activity has been climbing steadily as product innovation and shifting borrower demographics reshape demand for older borrower solutions.
Together's own lending has grown
Together's group net loan book reached £8.4 billion in the quarter to 31 March 2026, up 7.6% year-on-year. Average monthly lending rose to £309.9 million, up 24.9% on the same quarter a year earlier. Underlying profit before tax climbed to £60.8 million, up 5.7% year-on-year.
Together is based in Cheadle, Cheshire, employs more than 900 people and has a loan book of £8.5 billion. It provides mortgages, bridging loans, commercial and semi-commercial lending, auction finance and development funding across mainland UK.
Executives frame membership around 'broadening' the market
"Joining the Equity Release Council is about broadening the conversation around later life lending," said Rachel East, group head of strategy at Together.
"Council membership reflects our commitment to helping shape that future, championing innovation, raising standards and ensuring customers benefit from more holistic thinking across the later life landscape. We believe more lenders should play an active role in supporting that mission.”
John Barker, chief executive of personal finance at Together, said membership marked an important step in the firm's strategic journey. It would allow the firm to collaborate with industry leaders as the market evolves.
“We’re delighted to welcome Together to the Equity Release Council,” said Jim Boyd, CEO of the Equity Release Council. “Their experience in specialist lending will bring a valuable perspective to our membership as the later life lending market continues to broaden, and we look forward to working with the team to support its continued development.”
The Council also pointed to how the later life lending market is evolving. “The later life lending market is becoming increasingly diverse, and it is important that our membership reflects the breadth of solutions and expertise available to customers as their needs evolve,” said Kelly Melville-Kelly, deputy chief executive and director of risk, policy and compliance at the Council.
The Council is the representative trade body for the UK equity release and later life lending sector. It has more than 800 member firms and 1,800 registered individuals spanning providers, funders, regulated financial advisers, solicitors and surveyors.
