Sundeep Patel

Together refreshes commercial and personal finance product ranges




Together has lowered rates on its bridging loans and specialist mortgages as part of a product range refresh aimed at offering more options for brokers’ clients.

Changes to its commercial range include increased LTVs on unregulated bridging loans for residential purchase to 75% (from 70%) and to 70% (from 65%) on refinancing deals.

The lender has cut rates on regulated bridging loans, now at 0.65% for up to 50% LTV, and 0.75% above 50% LTV and to a max of 70% LTV.

Its BTL and specialist holiday-let products have also been revamped, with LTVs rising to 75% for residential purchases and 70% for refinancing residential properties.

The LTV on Together’s second-charge BTL has also been increased from 65% to 70%.

In addition, the specialist lender has launched a new consumer BTL five-year fixed-rate product at 6.99%. For this product, the lender will accept rental income, but not additional income for affordability requirements.

It has also repriced its five-year fixed-rate mortgages to 5.99% on capital repayment and 6.49% on interest-only home loans.

Sundeep Patel, director of sales at Together (pictured above), said: “The residential property market has remained buoyant, despite the challenges of Covid-19, and we’ve updated our offering to provide more options for borrowers buying a new home or refinancing their existing house, or for those looking to seize an opportunity to invest in rental property.

“We anticipate that the residential BTL market will return to health post-Covid and believe that holiday lets will prove attractive to investors, as the popularity of UK staycations increases once lockdown is lifted.”

He added: “These are the latest changes we’ve introduced as we continue to increase our lending and there are still more improvements in the pipeline.”

Last month, Together updated its criteria to allow more automatic property valuations in a move designed to reduce costs and speed up mortgage applications.

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