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Together launches its lowest ever second charge loan   

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  • 12/10/2018
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Together launches its lowest ever second charge loan   
Together has cut rates on second charge loans, as competition in the market heats up.

 

The specialist lender is targeting borrowers holding a good credit history, with rates from 5.34% at 70% loan-to-value (LTV).

Loans of between £25,000 and £1million to a maximum LTV of 77.5% are available.

It comes as One Savings Bank’s second charge arm Prestige yesterday also cut second charge loans.

Together’s products are available through its specialist distributor partners and can be used for a range of properties, including apartments on the sixth floor or above, for example.

Self-employed customers, freelancers and contractors, those on zero-hour contracts, retired people, and those on benefits, as well as those in full-time employment, may also fit the lender’s criteria, subject to an affordability assessment.

Richard Tugwell, group intermediary relationship director said: “The second charge market has evolved over the past few years to bring it more in line with first charge mortgages, and making secured loan products attractive to borrowers.

“We are finding that people with good credit histories are looking for second charge loans and we’re delighted to launch this new, limited edition product in response to their needs.”

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