Together increases residential, second charge and commercial rates

Together has announced increases to rates across a number of products within its portfolio, which it says is "in line with the current market".

On its personal finance offering, there will be an increase to fixed rate and discounted first and second charge loans, whilst consumer buy-to-let, regulated bridging loans and all standard variable rate products remain unchanged.

First charge products have increased by up to 0.40% and second charge rates by up to 0.59% for two-year fixes and discounted products and 1.35% for smaller loans.

For commercial products, buy-to-let first charge two and five-year fixed rates, second charge five-year fixed rates, and fixed homeowner business loans will increase. All variable rate products, unregulated bridging and commercial term will not change. 

In its buy-to-let range, first charge products have increased by up to 0.50% and second charge rates by up to 25bps.

Matt Kelly, senior commercial product manager at Together, said: “Following a sustained period of swap rate increases, led by market expectations that the Bank of England base rate will remain higher for longer and reaction to the recent Budget announcement, we have had to take the decision to adjust rates on a number of our products.

“We remain committed to helping our customers achieve their property ambitions, and will continue to track the market to further adjust our products accordingly.”