Together launches its lowest ever second charge rate

The products are available through the lender’s specialist distributer partners for borrowers with no CCJs or secured loans arrears in the past 12 months, or who have missed a maximum of two unsecured loan payments in 24 months.

Together’s second charge products can be used for standard and non-standard properties and the lender will consider self-employed workers, freelancers, those on zero-hour contracts, retired people, and those on benefits.

The rate cuts follow the launch of Together’s lowest ever first charge residential mortgage rate of 3.59% last month.

Richard Tugwell, group intermediary relationship director, said: “The second charge market has evolved over the past few years to bring it more in line with first charge mortgages, and making secured loan products attractive to borrowers.

"We are finding that people with good credit histories are looking for second charge loans and we’re delighted to launch this new, limited edition product in response to their needs.”