Below is an update from Together, the Bridging and Commercial Mortgage lender, that you can access via our bridging and commercial mortgage team. Contact our team today for more information or click here to view their product cards.
Announcement
CBTL temporary withdrawal
I’m writing to let you know that, further to last weeks product update, we have temporarily withdrawn the exclusive first charge CBTL product from the range.
This is whilst a product redesign takes place and only affects new business. Please note you have until the end of June to submit exclusive CBTL cases in the pipeline and cases already submitted are unaffected.
Together personal finance – submission deadline reminder & SLA’s
Please be mindful of the upcoming deadline to submit full packs on the former TPF rates (May 2022 products). Cases need to be fully submitted with us, and fully packaged, by close of business 30th June.
If you are unable to fully package applications due to outstanding items, please contact me details of what is outstanding today so I can review whether you are able to secure the rate.
Key Dates for submission
· Any applications on MBV on our former rates (May 2022 products) must be submitted before close of business on Thursday 30th June and must include all packaging requirements. Any cases submitted after this date will need to reflect the new rate change.
· Re-quotes – As a reminder, any application on the old rates that is re-quoted at any stage will be updated to reflect the new rates.
· Post-submission – There is NO funding deadline date for TPF cases.
SLA’s
· New Business applications – 72hrs due to a large influx of new applications. The team are doing their utmost to manage the volume, however I will keep you in the loop as and when.
· Case Updates – 72hrs. I will keep you in the loop should anything change as a result of our increased volume.
Updates to our Commercial Finance products
Due to the continuing changes across the current economic environment and the recent Bank of England interest rate rises, we’re having to make some changes to some of our Commercial Finance rates whilst still remaining competitive in our markets.
From 1st July, any new cases keyed on My Broker Venue will reflect these new rates below:
Buy to Let from:
2 year fixed rate 5.69%
5 year fixed rate 5.99%
Variable rate 5.25%
Commercial Term from:
5 year fixed rate 8.99%
Variable rate 8.49%
Homeowner Business Loans from:
5 year fixed rate 8.49%
Variable rate 7.75%
You can see the full product details and updated rates in our product cards.