Together cuts to buy to let rates


Together Finance Stockport.Pictured Marc Goldberg

Together has announced rate reductions in its Buy-to-Let (BTL) fixed mortgage products from today.

The award-winning specialist lender is cutting rates across its two and five-year fixed rate BTL mortgage products to support more brokers’ customers who want to buy rental properties.

Rates on Together’s specialist BTL first and second charge products will see a reduction of 26bps across the board.

The new interest rates for first charge five-year fixed mortgages will start at 7.99% (second charge from 8.99%) while two-year fixes begin at 8.99% with second charge loans at 9.99%

The lower rates will be available for customers looking to buy standard and non-standard properties, including 100% residential investment properties, holiday lets and Houses in Multiple Occupation (HMOs).

Together is the latest lender to reduce its rates following a decision by the Bank of England to hold the base rate following consecutive rises since November 2021.

Marc Goldberg, CEO of Sales and Distribution at Together, said:

“We’re really pleased to be able to offer our intermediary partners and customers our new, lower-rate deals from today.

We’re starting to see some confidence and stability return to the mortgage and property markets after a long period of uncertainty.

The Bank of England’s decision to hold its base rate at 5.25% has meant swap rates have become less volatile in recent weeks.

This has given us the confidence to re-examine our BTL rates following invaluable feedback from our broker partners.”

Surging rents and sellers dropping asking prices are making the BTL sector more attractive for rental investors, said Mr Goldberg, who added that there are “huge opportunities for a new breed of landlord.”

He said: “We’ve supported landlords throughout our business’s 50-year history and will continue to support existing customers. But what we are seeing now is something of a re-set with increasing demand from a new type of landlord. We can help them, as we have with existing customers by offering our common-sense approach as a strategic funding partner to meet their ambitions.”

The new, lower rates will apply to any quotes or requotes completed on or after today (Friday 29th September 2023). Submitted applications at the previous rate must be funded by Friday 27th October.