Together cuts secured loan rates

The new reduced rates are effective immediately and are available on prime cases, now available from 6.85%, and light cases from 7.87%.

Recent Enterprise Finance figures show that secured loans are growing in popularity in the market. In July this year, monthly secured lending grew to £85.5 million, with monthly completions increasing by 14% from May to June, then jumping a further 2% in July. This marks a year-on-year improvement of 21% more second charge activity this July compared to July 2014, with annual secured loan lending figures on track to succeed the £1 billion mark by the end of this year.

Sales director Gary Bailey said:

“These are exciting times at Together and, as always, our appetite to lend is strong. As a leading specialist lender in a competitive market, we’re consistently reviewing and improving our rates and services. Our common sense approach to lending means we can deliver fast and flexible finance solutions, via our broker partners, to markets that are underserved by mainstream lenders, and we constantly strive to enhance our value proposition.”