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Together cuts bridging rates by up to 0.15 per cent and ups LTVs and loan sizes

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  • 04/06/2021
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Together cuts bridging rates by up to 0.15 per cent and ups LTVs and loan sizes
Together Loans has cut rates on selected bridging products by up to 0.15 per cent, doubled its loan sizes and increased maximum loan-to-values (LTVs) to provide more flexibility to borrowers.

 

The rates on its short-term loans for residential investment at 50 and 60 per cent LTV have been cut by 0.1 per cent to 0.55 per cent and 0.65 per cent respectively.

Rates for its unregulated bridging loans for commercial property at 60 and 70 per cent LTV had their rates cut from 1 per cent to 0.85 per cent and 0.9 percent.

The lender increased its maximum LTVs by 5 per cent to 70 per cent for purchases and by 15 per cent to 65 per cent for refinancing.

Loan sizes for its unregulated bridging range have also been doubled to £1 million.

Together’s commercial CEO Marc Goldberg (pictured) said: “Despite the challenges of the pandemic, the property market has performed well, meaning the bridging finance industry has remained strong. We expect this positivity to continue as restrictions have been fully lifted. That’s why we’re introducing these latest changes to provide more options for borrowers.

“As one of the UK’s leading bridging lenders, we’ve become renowned for providing fast finance with ease and flexibility, and we believe these latest changes will give us even more of an edge in what is a very competitive bridging market, providing even more positive outcomes for our customers and intermediaries’ clients.”

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