From today, Together has changed its underwriting process for second charge, so the lender can make a conditional mortgage offer when consent from the first charge lender is the only thing outstanding.

The firm said that this would speed up the application process for brokers and clients and offer greater certainty earlier in the process.

Together has also increased some of its commercial loan sizes, with the maximum loan size on commercial mortgages going from £250,000 at up to 65% loan to value (LTV) to £1.5m.

Tanya Elmaz (pictured), director of intermediary sales at Together, said: “We’re known among our intermediary partners for providing quick lending decisions and delivering the funds for brokers’ clients to realise their property ambitions.

“The associated delays in obtaining consent from first charge lenders have been a major bugbear across the industry. Feedback from our valued master brokers highlighted that being able to receive an offer before receiving consent is attractive, as it means the customer has a better understanding of the outcome of their application earlier in the process.

Sponsored

Mind over mortgages: why we need to look after intermediaries’ mental health

Sponsored by Halifax Intermediaries

“We expect our latest consent to follow change will deliver a more flexible underwriting process and further enhance Together’s reputation among intermediary partners as a lender [that] provides fast and flexible finance when it’s needed.”

Elmaz added: “This change will give clients peace of mind knowing that they have an offer for a second charge loan to quickly consolidate debt or complete a refurbishment project.”

Together is the latest lender to add consent to follow, with Pepper Money adding this to its proposition in October last year.