Together has lowered its residential and buy-to-let (BTL) mortgage rates to support more borrowers as the stamp duty holiday is phased out.
The group has brought back its lowest rate of 3.59% for its 2-year fixed Prime Plus mortgage product for capital repayment, and 4.09% for interest only as it returns to pre-COVID lending volumes.
Together’s 5-year fixed Prime Plus mortgage, which was initially a limited edition product, is now available to the whole of the market on a permanent basis, following feedback about its popularity from brokers and customers.
Headline rates for the 5-year fixed are 4.99% for capital repayment and 5.49% for interest-only.
In addition, the specialist finance firm has introduced its lowest ever rate of 4.99% on its standard BTL and consumer buy-to-let (CBTL) first charge products, and 5.99% across BTL and CBTL second charge products.
Pete Ball, personal finance chief executive at Together, said: “We’re delighted to be able to re-launch our lowest ever residential mortgages in response to a strong market demand from potential borrowers who may not be able to access loans through mainstream channels.
“The residential property market has performed incredibly well during the COVID-19 crisis, boosted by the government support through stamp duty tax breaks.
“However, as this help starts to taper out, there will be many borrowers who are in the market for more competitive mortgage products to meet their individual circumstances – and to help them realise their home-owning ambitions.”
Marc Goldberg, commercial finance chief executive, added: “We have reduced the rates for our standard BTL range on the back of an extremely positive reaction from the market and invaluable feedback from our intermediary partners.
“We see BTL as a key driver as we grow our lending back to pre-pandemic levels. These recent changes will provide and even more competitive offering from Together, meaning we can provide more landlords and investors with the finance they’re looking for.”