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
Fixed rate reduction/Increase to Variable
Please find below details of the Together Personal finance and Commercial finance pricing changes and attached the latest product cards noting the changes. Due to the increase in BBR the variable lending rates have increased, but we have passed on reductions on fixed rate products based on swap market pricing.
These changes are taking place with effect from the morning of 11th August 2023.
Summary of Product Changes
Personal Finance
- 10bps decrease to 2 year fixed ranges across 1st Charge, 2nd Charge, CBTL 1st Charge and CBTL 2nd Charge
- 40bps decrease to 5 year fixed ranges across 1st Charge and CBTL 1st Charge
- 25bps decrease to 5 year fixed ranges across 2nd Charge and CBTL 2nd Charge
- 25bps increase to all variable rates
Commercial Finance
- 20bps decrease to 2 and 5 year fixed BTL products across 1st charge, 2nd charge, HOBL 1st charge, HOBL 2nd charge
- 25bps increase to all variable rates
Reminder of pipeline treatment
To apply the new reduced fixed rates to pipeline cases please requote the case in MBV or contact underwriting to unlock the case.
Personal Finance
- You will have until 23:59 on 25th August 2023 to submit fully packaged applications on our previous variable rates.
- These variable rate cases must progress to offer by the 22nd September 2023.
- Any requotes and/or financial amendments to existing cases from 11th August will have the new rates applied to them.
Commercial Finance
- All variable submitted applications will need to complete by 8th September 2023.
- Any variable cases not already with our underwriting team when these new products come into effect will need to be re-quoted onto our new rates.
Unfortunately there can be no exceptions to these dates.