Together lowers rates on its buy-to-let products after broker feedback

Michael Lloyd

March 16, 2018

Together has lowered the rates on its range of buy-to-let mortgages and simplified its process for brokers when submitting portfolio landlord cases.

The specialist lender has cut rates to 5.99% for its prime capital repayment customers at under 65% loan-to-value and to 6.49% for those with higher LTVs.

There have also been reductions for customers making interest-only repayments, with a rate of 6.49 below 65% LTV, and 6.99% for LTVs of 65% or more.

Marc Goldberg, commercial, chief executive at Together, said: “As one of the UK’s leading buy-to-let specialist lenders we are committed to supporting landlords looking to grow their portfolios in a more ‘professional’ era for the market.

“We’ve listened to the brokers we work closely alongside and, using our philosophy of common sense lending, have lowered our rates and simplified the process for intermediaries submitting portfolio landlord cases.

“This will create a more straightforward mortgage process and give brokers the confidence that the application will go through with no issues.”

Following feedback from intermediaries, the specialist lender has moved all portfolio landlord cases onto its standard product. This makes it easier for brokers to source the best products through its online portal, My Broker Venue.

In addition, the specialist lender is one of the few UK finance providers to have no restriction in overall portfolio value or volume.

The rate and process changes are among a raft of improvements to Together’s buy-to-let products. The lender has increased LTVs to 60% for loans up to £2m.

Its first and second charge products can be secured on one or several properties, from standard houses and flats to ex-council properties and those of non-standard construction.

Together will also take into account a customer’s income so applications may proceed even if rental payments do not satisfy the ICR requirements.

The interest-only maximum term has been increased to 30 years to align to capital repayment maximum loan terms and rates for second charge loans have been reduced in line with its first charge buy-to-let mortgages.

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