Together re-launches its fixed-term personal and commercial ranges

Together has today re-launched its fixed rate personal and commercial finance products to help clients who may be underserved by mainstream lenders.

The specialist lender has re-introduced its first and second charge five-year fixed personal finance products and its five-year fixed rate buy-to-let (BTL) products, both on first and second charge.

It has also brought back its five-year fixed home owner business loan product for clients seeking a loan secured against their home to raise capital for commercial purposes.

First-time buyers, home movers and remortgage clients, who have typically been unable to access finance from the high street because they have ‘non-standard’ borrowing requirements may be eligible for the re-launched products. These could include older borrowers, self-employed workers, those on zero-hour contracts or with complex income streams.

Ryan Etchells, director of products and distribution at Together said: “As ever, we at Together remain committed to working with our partners and supporting intermediaries and their clients in an ever-changing market.

“Our common sense approach to lending allows us to be more flexible to take account of clients’ individual circumstances and have a large appetite to lend the right kind of finance they need to realise their property ambitions.”

Together sets itself apart from other lenders through offering fast, flexible finance and taking a bespoke approach by looking at each application on a case-by-case basis.

The lender accepts those with ‘non-standard’ income sources. They could be self-employed company directors with complex incomes or bonus structures, pensioners, or workers taking incomes from second jobs, those still on a probationary period after starting a new role, or on short term or zero hour contracts, or benefits.

Its offering supports those in buying situations such as shared ownership or right to buy (RTB); borrowers with thin or impaired credit, or those who are buying an unusual property, such as a thatched cottage, a high-rise flat, or semi-commercial property, for example.

For self-employed applicants, Together is willing to consider applications from those with a minimum of 12 months of trading accounts, and is also able to use projected income to assess affordability.

Rates for Together’s five year fixed-term mortgage range will start at 8.75% (65% LTV), with secured loans starting at 9.35% (65% LTV). Its BTL products start at 8.75% for first charge and 9.75% on second charge. Rates for home owner business loans start at 9.75%

Toby Breeden, new business director at specialist finance broker Crystal said: “We are delighted to hear that Together will be bringing back its fixed rate products to market.

“This has been a difficult and uncertain time for many, so to see a key lender taking this step forward is excellent. We will continue to work closely with Together to offer our customers the best products and service, catered to their individual situation and needs.”