Together temporarily pauses lending on fixed rate deals

The lender said that the temporary pause would not impact its variable rate products in its commercial and personal finance ranges, which remain available.

On the commercial finance side, Together said that it would aim to honour cases that are due to complete this Friday 30 September and would provide updates as soon as possible.

It added that it would not be progressing other fixed rate products in the pipeline whilst it paused to review its product range.

Together added that any fully submitted variable rate applications that had not been submitted before 28 September would need to be requoted to reflect new pricing and fully submitted applications funded by 26 October would also need to requoted.

The lender added that it would pause work on personal finance deals in its pre-offer pipeline whilst it reviewed its range and updates would be given as soon as possible.

‘An incredibly uncertain market’

Ryan Etchells, director of products and distribution at Together, said that the lender had taken the decision to briefly stop lending on fixed rate deals as it “fully assesses the impact of the current market”.

He added: “This pause will not affect any of Together’s commercial and personal finance variable rate products, which remain available to our adviser partners and customers.

“We want to make it clear that this is a temporary measure to give us the time needed to comprehensively assess what is an incredibly uncertain market, to ensure we have the right product suite for this challenging environment. We will continue to keep our adviser partners and customers up-to-date on any developments.”