Together cuts variable rates on unregulated bridging products

By Bridging Loan Directory 13th September 2024

Specialist lender Together has lowered rates on unregulated bridging loans for landlords and investors buying or renovating residential property.

The new rate cut of two basis points per month across Together’s unregulated residential bridging first and second charge products, are designed to help brokers’ customers in terms of affordability.

The changes apply to loan sizes of more than £100,000, with variable interest rates on first charge loans at up to 65% LTV being reduced from 0.95% to 0.93% and on second charge from 1.05% to 1.03%.

Variable rates on loans of up to 75% LTV have been cut from 1.05% on first charge to 1.03% and from 1.15% to 1.13% on second charge.

The lower rates are applicable from today (September 13^th).

Tanya Elmaz, Director of Intermediaries at Together, said:

“We’re pleased to announce our latest rate reductions for our unregulated residential bridging loan products on both first and second charge.

“The changes will help brokers’ customers – mainly residential property landlords and investors – benefit from lower rates, which will help when it comes to affordability.

We’re always working closely with our broker partners and monitoring the market to constantly refine and improve our service and products to provide the best outcomes as we support customers in achieving their property ambitions.”