Together cuts BTL mortgage rates

Together has lowered its BTL and residential mortgage rates to support more borrowers as the stamp duty holiday is phased out.

The lender has introduced its lowest ever rate of 4.99% on its standard and consumer BTL first-charge products, and 5.99% across standard BTL and consumer BTL second-charge products.

The rate reductions aim to support borrowers after the threshold at which stamp duty is charged fell to £250,000 on 1st July, with it set to return to the pre-pandemic level of £125,000 in September.

The new rates will be available to individual and portfolio landlords, sole traders, partnerships, limited companies and LLPs, for standard construction properties, including HMOs, ex-council flats and maisonettes up to six storeys.

They apply for loans between £50,000 and £2m for standard BTL and between £50,000 and £250,000 for consumer BTL.

Marc Goldberg, commercial finance CEO at Together (pictured above), said: “We have reduced the rates for our standard BTL range on the back of an extremely positive reaction from the market and invaluable feedback from our intermediary partners.

“We see BTL as a key driver as we grow our lending back to pre-pandemic levels. 

“These recent changes will offer an even more competitive range from Together, meaning we can provide more landlords and investors with the finance they’re looking for.”

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