CBTL loans have seen significant reductions, with up to 205bps cut on first charge fixed deals. These now start at 6.95% for a five-year term and 7.10% for two years. Rates for second charge five-year fixed deals begin at 7.5%, and two-year fixed at 7.65%, with variable rates for first charge starting at 9.05% and second charge from 9.4%.
“We’re pleased to be able to provide even more support through rate reductions across many of our personal finance products,” said Tanya Elmaz (pictured), director of intermediary sales at Together. “At Together, we are keen to show that we maintain a healthy appetite for lending despite the economic turbulence the market has experienced over the past couple of years. Our reduction of rates demonstrates this commitment.”
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In addition to rate reductions, Together is also making changes to its second charge range. Loan sizes from £30,000 to £50,000 will now qualify for the lender’s lowest rates and will be available for customers who have had credit blips in the past.
The specialist lender will be retaining its ‘smaller loan’ range for loans between £20,000 to £30,000. These will start from 9.35% for a five-year fixed and 10.15% for a two-year fixed. It has also raised the maximum LTV for these smaller loans to 75%.
