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Together cuts personal finance rates and makes second charge changes

  • 19/04/2024
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Together cuts personal finance rates and makes second charge changes
Specialist lender Together has lowered rates across its personal finance range, including first charge, second charge and consumer buy to let (BTL).

Together has lowered first charge rates by up to 1.3%, with rates beginning from 7.99% for a five-year fixed rate and 8.2% for a two-year fixed rate. Variable rates will be available from 10.05%.

Second charge rates have fallen by up to 1.7%, with five-year fixed rates priced from 8.3%, two-year fixed rates from 8.5% and variable rates starting from 10.45%.

Consumer BTL first charge rates will go down by 2.05% and start from 6.95% for a five-year fixed rate and 7.1% for two-year fixed rate.

Second charge consumer BTL five-year fixed rates will start from 7.5%, and two-year fixed rates will begin from 7.65%. Variable first charge rates are priced from 9.05%, and second charge are priced from 9.4%.

Together is also making further changes to its second charge range, with loan sizes from £30,000 to £50,000 qualifying for the lender’s lowest rates, which will be available for customers who have had credit blips in the past.

The firm will be retaining its “smaller loan” range for loans between £20,000 and £30,000. This will start from 9.35% for a five-year fixed and 10.15% for a two-year fixed. Together has also increased the maximum loan to value (LTV) for these smaller loans to 75%.

Tanya Elmaz, director of intermediary sales at Together, said: “We’re pleased to be able to provide even more support through rate reductions across many of our personal finance products.

“At Together, we are keen to show that we maintain a healthy appetite for lending despite the economic turbulence the market has experienced over the past couple of years. Our reduction of rates demonstrates this commitment.”

She continued: “We’ve listened to feedback from our intermediary partners and made changes in line with what they need. Common-sense lending is at the heart of our ethos at Together, and our customers and partners are key to every decision we make.

“We’ve been opening doors for our customers for 50 years now, and remain dedicated to helping them achieve their property ambitions. Our goal is to become the UK’s most valued lender, and we will continue to make decisions based on our customer’s needs.”

Last month, Together launched a £150m development securitisation facility.

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