Together cuts rates on unregulated bridging range

Together has removed fees and lowered rates across its unregulated short-term loan range in a bid to support those looking to buy investment properties.

The specialist lender has removed exit fees for unregulated bridging loans over £50,000, while making its lowest ever rate of 0.49% available over 12 months at 50% LTV.

In June 2017, Together announced its lowest-ever regulated bridging rate at 0.49% per month.

Together has also cut the cost of borrowing across its new tiered pricing structure with rates starting at 0.59% for short-term loans at 55% LTV, 0.64% at 60%, 0.74% at 70% and 0.84% at 75%.

The updated product range is available to residential property investors and landlords in England, Wales and Scotland, with loans up to £2m.

The refreshed range is available to Together’s selected partners.

Marc Goldberg, commercial CEO at Together (pictured above), said it wanted to ensure it remained at the forefront of a competitive bridging market

“We believe our latest product refresh will [lead to] us helping even more customers to get the best outcomes from their property investments.”

Together added that investors purchasing at auction could now get a free decision in principle, so they would be able to find out exactly what they could afford to borrow, with a quote online, over the phone, or in the auction room before they bid. 

“We’re excited to be able to offer this new service direct to customers and through our auction partners to support landlords and investors,” added Marc.

“It’s free and takes less than five minutes to complete, without affecting a customer’s credit profile.

“If we can provide the finance they need, we will inform the customer straight away, with a summary of the loan online, to give them the confidence that short-term funding is in place for them to snap up their chosen property.”

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