From today (May 24th) Together has changed its underwriting processes, allowing the lender to issue a conditional mortgage offer when consent from the first charge lender is the only outstanding item.
The move is designed to speed up the application processes for brokers and their clients, giving them greater certainty earlier in the application process.
Together has also announced an increase in some of its commercial loan sizes, raising the maximum loan on commercial mortgages from £250,000 (at up to 65% LTV) to £1.5m.
- The Finance Professional Show 2023: The Video
- Together loan book hits £7bn as company's quarterly lending increases 24% from last year
- Together provides second charge bridge within 24 hours of contact with broker
Tanya Elmaz, director of intermediary sales at Together (pictured above), commented: “Feedback from our valued master brokers highlighted that being able to receive an offer before receiving consent is attractive, as it means the customer has a better understanding of the outcome of their application earlier in the process.
“We expect our latest consent to follow change will deliver a more flexible underwriting process.
“This change will give clients peace of mind knowing that they have an offer for a second charge loan to quickly consolidate debt or complete a refurbishment project.”
Leave a comment