Together vs OakNorth: Business Finance Compared
Together vs OakNorth compared for UK business and property finance: loan sizes, criteria, speed and who each suits. Impartial guide from Greenwood Capital.
The short version
- Together is a long-established specialist secured lender that leans on the asset, so it tends to suit borrowers with complex income, adverse credit or unusual property.
- OakNorth is a digital challenger bank built around larger, bespoke facilities for established, profitable SMEs and experienced property professionals.
- Together spans smaller loans and long mortgage-style terms; OakNorth focuses on six-figure and seven-figure deals with a relationship-led credit process.
- Together is generally more flexible on eligibility; OakNorth generally expects a trading track record and clear repayment strength.
- Cost is personalised for both, so treat any rate you see as indicative only and confirm current terms directly.
Together and OakNorth are two of the better-known names outside the high street, and both appear on shortlists when a UK business or property owner needs finance that a mainstream bank has declined or cannot structure. They are, however, quite different animals.
Together is a specialist secured lender with roots going back to 1974, known for flexible, security-led decisions across bridging, commercial mortgages and secured business loans. OakNorth is a digital bank launched in 2015 that concentrates on sizeable, tailored lending to established SMEs and seasoned property developers. Understanding where each one plays helps you avoid applying to the wrong door.
Compare them at a glance
The quickest way to see the difference is to look at the non-price metrics each lender publishes. The dashboard below compares loan sizing, repayment terms and how much trading history each typically expects, which together tell you who is built for what.
The two lenders in detail
Together
Together (Together Financial Services) is a specialist finance provider based in Cheadle, Greater Manchester, with more than five decades of lending history. Its focus is secured lending, meaning finance backed by property or another asset, across bridging finance, commercial and buy-to-let mortgages, second charge loans, development finance and secured business loans. Because decisions lean heavily on the security and the exit, Together is often used where circumstances are not vanilla, for example complex income, previous credit blips or a non-standard property.
Strengths
- Security-led underwriting that can accommodate complex income and adverse credit.
- Wide product range covering bridging, commercial mortgages, buy-to-let and secured business loans.
- Can move quickly on bridging where the exit is clear.
- Lends to individuals, sole traders, partnerships and limited companies.
- Long, established track record as a specialist lender.
Watch-outs
- Specialist and short-term products tend to price higher than mainstream lending, so check current terms.
- Finance is secured against property or assets, which are at risk if you cannot repay.
- Geared toward asset-backed lending rather than unsecured working capital.
- Fees and rates vary by profile, loan-to-value and product, so confirm figures before committing.
OakNorth
OakNorth Bank is a UK digital bank founded in 2015 and headquartered in London. It specialises in bespoke debt finance for established, profitable SMEs and experienced property investors and developers, typically for growth, acquisitions, management buyouts, refinancing and property projects. Facilities are structured deal by deal, often with direct access to the decision-makers rather than a purely automated process. As a deposit-taking bank, OakNorth also offers business and personal savings accounts, with eligible deposits protected under the Financial Services Compensation Scheme.
Strengths
- Comfortable with larger, six-figure and seven-figure facilities.
- Bespoke structuring built around the business plan and repayment story.
- Relationship-led credit process that can be quick for the deal size.
- Strong fit for growth capital, acquisitions and property development.
- Bank status with a savings side and FSCS-protected deposits.
Watch-outs
- Aimed at established, profitable businesses rather than startups or early-stage traders.
- Minimum facility sizes rule out smaller borrowing needs.
- Less suited to significant adverse credit or thin trading history.
- Security and detailed financials are usually required, so preparation matters.
Side-by-side comparison
The table below sets the two lenders against each other on the practical points that decide which one fits. Treat the ranges as indicative published guidance rather than an offer.
| Feature | Together | OakNorth |
|---|---|---|
| Type of lender | Specialist secured lender | Digital challenger bank |
| Core products | Bridging, commercial mortgages, buy-to-let, second charge, development finance, secured business loans | Bespoke business loans, growth and acquisition finance, commercial and development property finance |
| Indicative loan amounts | Around £25k up to several million | Around £250k up to £25m |
| Security | Property or asset backed | Usually secured, structured to the deal |
| Repayment style | Short-term bridging through to long mortgage-style terms | Structured term loans aligned to a growth or exit plan |
| Typical speed | Fast on bridging where the exit is clear | Quick for the deal size given the bespoke process |
| Eligibility focus | Strength of security and exit; flexible on credit and income | Established, profitable trading and credible repayment plan |
| Best for | Complex, asset-backed or time-sensitive cases | Larger, tailored funding for established businesses |
Cost is not shown here on purpose. Pricing for both lenders is personalised to your profile, the security offered, the loan-to-value and the product, so any headline rate is directional only. Always confirm current rates, fees and terms with the lender before you decide.
Where Together tends to win
Together tends to come out ahead when the case is asset-backed and the story is not straightforward. If you have a strong property to secure against but complications elsewhere, such as recent credit issues, self-employed or lumpy income, a mixed-use or unusual building, or a tight deadline on a purchase, Together’s security-led approach and wide toolkit give it more room to say yes. It also serves smaller borrowing needs that fall below a bank’s minimum, and its bridging products are built for speed where there is a clear exit such as a refinance or sale. In short, Together often wins on flexibility, product breadth and access at the smaller and more complex end of the market.
Where OakNorth tends to win
OakNorth tends to win when an established, profitable business needs a larger, tailored facility and can present clear numbers. For acquisitions, management buyouts, ambitious growth capital or a substantial property development, OakNorth’s willingness to structure a bespoke deal and to lend well into seven figures is a genuine advantage that most specialist lenders and high-street banks struggle to match at pace. The relationship-led credit process means you are dealing with people who can engage with the detail of your plan, which suits complex, sizeable transactions. Where the requirement is large, the business is solid and the case needs shaping rather than squeezing into a template, OakNorth is frequently the stronger fit.
Who each lender suits
Together tends to fit if…
- → You have property or an asset to secure against and want a security-led decision.
- → Your income is complex or your credit history has some blemishes.
- → You need bridging or a fast completion with a clear exit.
- → Your borrowing need is smaller or your case is non-standard.
OakNorth tends to fit if…
- → Your business is established and profitable with clean financials.
- → You need a larger facility, often well into six or seven figures.
- → You are funding growth, an acquisition, a buyout or a development.
- → You value a bespoke, relationship-led structure over a template product.
How Greenwood helps you choose
Greenwood Capital is a Manchester-based, whole-of-market finance broker specialising in secured business loans. Rather than applying to one lender and hoping, you share your situation once and we compare suitable options across the market, including specialists like Together and banks like OakNorth, then explain in plain terms how the choices stack up for a case like yours. This is general, educational help to save you time and repeated credit searches, not personal financial advice or a recommendation. The final decision, and confirmation of current terms, always sits with you and the lender.
The verdict
Neither lender is universally better; they are built for different jobs. Together is the natural choice when the deal is asset-backed, smaller or complicated, or needs to move fast, while OakNorth shines when an established, profitable business needs a larger, carefully structured facility. The right answer depends on your amount, your security, your trading history and your timescale, which is exactly what a whole-of-market comparison is designed to weigh up. If in doubt, let Greenwood map your case against both and the wider market before you commit.
Sources
- Together product and eligibility pages covering bridging, commercial mortgages, buy-to-let and secured business loans.
- OakNorth Bank business lending and savings pages describing its bespoke debt finance and deposit products.
- Companies House records for corporate history and founding dates of both lenders.
- Financial Services Compensation Scheme guidance on deposit protection for savings held with UK banks.
- Greenwood Capital market knowledge from comparing secured business lending across the UK market.