Together cuts rates on its BTL products

Together cuts rates on its BTL products

9:51 AM, 22nd January 2024, About 9 months ago

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The specialist buy to let lender Together has announced rate cuts on its personal and commercial finance products because of easing market volatility.

The financial services group said it can support more broker clients by offering lower rates on many of its long and short-term products, both regulated and unregulated.

The rate cuts apply to its buy to let (BTL) products on both first and second charge.

For instance, Together’s five-year fixed rate has dropped 40bps to 7.59% and its second charge five-year fixed BTL products now start at 8.59%.

‘Responding to improving conditions in lending markets’

Together’s chief executive of sales and distribution, Marc Goldberg, said: “We are responding to improving conditions in lending markets after a great deal of turmoil over the last few years and are glad to be able to pass on reductions in our own cost of borrowing to our valued partners and their clients.

“As always, we continue to apply our common sense through our flexible criteria.”

He added: “However, these new reduced rates could open the door to more customers, allowing them to achieve their property ambitions.”

TMW has reduced rates on products for new customers

Meanwhile, The Mortgage Works (TMW) has reduced rates on products for new customers by up to 0.15 percentage points, with rates starting from 3.54%.

The buy to let rate reductions for new customers include:

  • Two-year fixed rate (purchase and remortgage) at 3.54% with a 3% fee, available up to 65% LTV (reduced by 0.15%)
  • Two-year fixed rate (purchase and remortgage) at 3.94% with a £3,995 fee, available up to 75% LTV (reduced by 0.05%)
  • Five-year fixed rate (purchase and remortgage) at 3.84% with a 3% fee, available up to 55% LTV (reduced by 0.10%).

TMW’s senior manager for buy to let mortgages, Joe Avarne, said: “As one of the largest buy to let providers in the market TMW remain committed to supporting landlords by maintaining our competitive position.

“These latest cuts will see TMW rates starting from 3.54% and will be some of the lowest rates in the market.”

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below:

Contact Brooklands Commercial Finance

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