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
Updates to our Personal Finance pipeline
Following our recent email where we advised that we’d temporarily paused lending on all of our fixed-rate products amid market uncertainty, we can now update you on the revised pipeline information for Personal Finance products, as below.
Pre-offer
We’ll honour all pre-offer pipeline on applications received on or before 27th September 2022, subject to all outstanding documents being provided by 7th October 2022 and the case being offered by 14th October 2022.
These cases must be funded by 14th November 2022.
Post-offer
We’ll honour all pipeline cases where the customer is happy to proceed.
Variable products
We continue to offer a range of variable rate personal finance products, which have been updated.
Important Changes to our Personal and Commercial Finance products
From 5th October, we are pleased to introduce a range of new reduced variable rates, any new cases keyed onto My Broker Venue will reflect the new reduced rates below:
First Charge – variable from 7.29%Second Charge – variable from 7.79%Consumer Buy to Let (First Charge) – variable from 7.39%Consumer Buy to Let (Second Charge) – variable from 7.69%
Consumer Buy to Let exclusive rates from 7.39%
Regulated Bridging rates will be increasing as below:
- 50% LTV from 0.99%
- 60% LTV from 1.04%
- 70% LTV from 1.09%
Further changes:
- First Charge variable product maximum loan size is now £1m.
- Second Charge maximum loan size is now £250,000.
The above changes will be applied to any new quotes or any pipeline cases re-quoted and keyed on to My Broker Venue from 5th October 2022.
Commercial Finance Product Changes
From 5th October, any new cases keyed onto My Broker Venue will reflect the new rates below:
Unregulated Bridging
- Standard residential bridging rates from 0.85%
- Standard commercial bridging rates from 0.95%
The above changes will be applied to any new quotes or any pipeline cases re-quoted and keyed on to My Broker Venue from 5th October 2022.
You can see the full product details and updated rates in our product cards.