Together ups maximum bridging and BTL loan sizes

Together has increased the maximum loan sizes across its unregulated bridging and BTL ranges.

The lender’s bridging products now offer loans up to £5m (previously £2m), while the maximum loan size for its first-charge BTL options was upped from £2m to £2.5m.

Together has also cut the minimum loan size on its unregulated BTL products from £50,000 to £30,000 to support investors at the other end of the spectrum who are looking to maximise yield from lower value properties.

According to Marc Goldberg, commercial CEO at Together (pictured above), the larger loans highlighted the group’s appetite to support the ambitions of clients seeking larger loans.

“As we continue to grow our business, we’re always looking at the best ways to improve our products to make sure that we are delivering the right finance to meet the needs of our customer and brokers’ clients,” he added.

“We are seeing an increasing demand for larger loans to support landlords and investors’ property ambitions as the UK continues its economic recovery post-Covid. 

“These borrowers tend to be more complex, maybe because of their income or the type of security, so applications need to be expertly underwritten by knowledgeable lenders with experience of the commercial property market. 

“Together considers each finance application on a case-by-case basis, meaning we’re perfectly placed to deliver the fast and flexible finance needed to get the best outcomes for our customers.”

Last month, the group announced its loan book grew to £4.2bn, a 5.4% increase compared to the previous three months. 

Its average monthly lending increased by 21.9% on the previous quarter to £179m, with originations in September rising above pre-pandemic levels to £202m.

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