Specialist lender Together has lowered the rates on its unregulated bridging loans for investors and landlords who are buying or renovating residential property.
The rate cut of two basis points (bps) per month across Together’s unregulated residential bridging first and second charge products is designed to help brokers’ customers regarding affordability.
The changes apply to loan sizes of over £100,000. Variable rates on first charge loans at up to 65% loan to value (LTV) have been reduced from 0.95% to 0.93% and, on second charge loans, from 1.05% to 1.03%.
Variable rates on loans of up to 75% LTV have been cut from 1.05% on first charge to 1.03%, while for second charge, there is a decrease from 1.15% to 1.13%. The lower rates are applicable from 13 September.
Tanya Elmaz (pictured), director of intermediaries at Together, said: “We’re pleased to announce our latest rate reductions for our unregulated residential bridging products on both first and second charge.
“The changes will help brokers’ customers – mainly residential property landlords and investors – benefit from lower rates, which will help when it comes to affordability.
“We’re always working closely with our broker partners and monitoring the market to constantly refine and improve our service and products to provide the best outcomes as we support customers in achieving their property ambitions.”
At the beginning of the month, Together lowered discounted rate mortgages.
Kelly Newlands is senior sub editor at AE3 Media, overseeing the sub editing and SEO for all of its publication titles: YourMoney.com, Mortgage Solutions, Specialist Lending Solutions and YourMortgage.com. She joined the team at AE3 Media at the beginning of 2024 from a role as a senior sub editor at an investment insights firm, where she was part of a sub editing team responsible for editing investment interview content.
Before that, she worked as a marketing executive and sole copywriter for a self-build company, where she created content for blogs and advertorials and worked on publications and website launches.
In her free time, Kelly enjoys reading, writing and keeping active at the gym or on dog walks.
