Together launches its lowest ever second charge rates

The lender has cut rates across its second charge Prime Plus range, with rates for residential borrowers starting at 5.19% at 65% LTV.

Together’s new two-year fixed products will start at 5.89% and five-year fixed rates at 6.39%.

Meanwhile, the lender is doubling its maximum Prime Plus loan sizes to £150,000 at 77.5% LTV and to £200,000 at 75% LTV.

Richard Tugwell, intermediary relationship director at Together, said: “We’re delighted to be able to offer our brokers’ clients larger second charge mortgages, some at our lowest ever rates and believe this shake-up of our Prime Plus range will make us even more competitive in the market.

“We’re constantly working with our partners to launch new products and improve those we already have and many brokers we’ve worked with had said that the new fixed-rate second charge products would be a great addition to our second charge range.

“Although a second charge isn’t always the right solution, in some cases it can be, so brokers should be looking at this type of lending as a viable option to remortgaging when advising their clients.”