Specialist property lender Together has reduced rates by up to 0.25% for term products and lowered bridging rates following the base rate cut.
In response to the base rate falling by 0.25% to 4.5%, Together has decided to pass this on to borrowers.
These changes apply to its entire commercial product range, including fixed and variable rate buy-to-let (BTL) and commercial term products, where two-year fixed rates have fallen by 0.25% and five-year fixes by 0.15%.
Variable rate products have been lowered by up to 0.25%.
Across its unregulated bridging options, variable rates have been cut by 0.02% per month.
Pricing on Together’s two-year fixed BTL product starts from 8.49% with a 2.5% fee and 6.49% with a 7% fee. The unregulated bridge product has variable rates from 0.91% per month.
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Across its personal finance options, reductions have also been made to its first and second charge mortgages, and its consumer BTL products.
Cuts of 0.25% have been made to two-year fixes, 0.15% for five-year fixes and up to 0.25% across variable rates. Regulated bridging rates have been cut by up to 0.05% per month.
This includes the regulated first charge range, where two-year fixes start at 8.25% and five-year fixes at 7.69%. Variable rates on its regulated bridge product begin from 0.85% per month.
Tanya Elmaz (pictured), director of intermediary sales at Together, said: “The Bank of England’s base rate cut earlier this month and recent changes to market rates will be [a] welcome relief to mortgage borrowers and businesses. We are pleased to be able to pass on potential savings to our valued brokers and their customers by reducing rates across many of our own flexible finance options.”
