Together cuts bridging and specialist mortgage rates

The lender has repriced its five-year fixed-rate mortgages to 5.99% on capital repayment and 6.49% on interest-only home loans.

Regulated bridging loans have seen rates cut from 0.65% to 50% LTV and 0.75% to 70% LTV, while the lender has launched a new consumer buy-to-let five-year fixed-rate product at 6.99%.

Its buy-to-let and specialist holiday let products have also been revamped with LTVs increasing to 75% for residential purchases and to 70% for refinancing residential properties (from 70% and 65% respectively). The LTVs on Together’s second charge buy-to-let has also been increased from 65% to 70%

Together has also increased LTVs on unregulated bridging loans for residential purchase to 75% (from 70%) and to 70% (from 65%) on refinancing deals.

Sundeep Patel, director of sales at Together, said: “The residential property market has remained buoyant, despite the challenges of Covid, and we’ve updated our offering to provide more options for borrowers buying a new home or refinancing their existing house, or for those looking to seize an opportunity to invest in rental property.

“We anticipate that the residential buy-to-let market will return to health post-Covid and believe that holiday lets will prove attractive to investors as the popularity of UK staycations increases once lockdown is lifted.

“These are the latest changes we’ve introduced as we continue to increase our lending and there are still more improvements in the pipeline.”