The range includes commercial term second charge, semi-commercial term second charge and commercial bridge second charge products. Together said this would give brokers and their clients the flexibility to raise capital without disrupting their first charge mortgage.
This will support borrowers looking to release equity from commercial or mixed-use properties, particularly where the rate on their existing first charge is favourable, or the loan is subject to early repayment charges.
The semi-commercial deals can be used for investment purchases and refinancing on mixed-use properties where 60% of the floorspace is used for residential purposes and let separately from the business premises.
The commercial and semi-commercial term second charge products are available up to 65% loan to value (LTV), with loans up to £1m.
The commercial bridge second charge and semi-commercial bridge second charge are available on 12-month terms, also up to 65% LTV.
The big BTL planner: Key dates landlords need to know
Sponsored by BM Solutions
Tanya Elmaz, managing director of intermediary sales at Together, said: “We’re always looking at how we can improve our products to meet market demand, and these latest launches provide brokers and their clients with even more choice.
“Many commercial or semi-commercial property owners are seeking ways to raise capital without refinancing their primary loan, and second charge solutions are becoming increasingly valuable in achieving this.”
She added: “These updates strengthen our position in the commercial lending space, offering market‑leading rates and the speed and common‑sense approach that Together is known for.
“Whether customers are looking to invest, refurbish or support business growth, our new products can help them move quickly and confidently to achieve their property ambitions.”
The latest data from the Finance & Leasing Association (FLA) showed that second charge lending continued to rise year-on-year.
