Together increases maximum loans sizes by up to £2m on commercial products

The changes will see maximum loan sizes on commercial term products increase to £5m, with LTVs at 70% for purchase and 65% for remortgage products. On buy-to-let products the maximum loan size has increased to £4.5m (from £2.5m).

Maximum non-standard property LTVs will increase from 60% to 65% for all applicable products across commercial and personal finance, including first and second charge and BTL mortgages.

For second charge homeowner business loans, Together is increasing its maximum loan size from £500k to £1m up to 70% LTV.

The latest changes follow rate reductions made earlier this month across a number of commercial and personal finance short-term products..

Tanya Elmaz, director of intermediary sales at Together, said:

“We are committed to constantly innovating our product range to enable us to serve increasing numbers of brokers and customers.  Through increasing our maximum loan sizes we are able to offer our award-winning  flexible-criteria products, alongside our speed of service, to even more customers."

"Our confidence in the market is demonstrated by our strong appetite to lend, and our ability to provide funding on non-standard properties demonstrates the strength of our underwriting team.”