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
Changes to our Commercial Finance products
From 6th January, new Buy-to-Let rates will be:
First charge exclusive variable rate from 6.99%
Second charge variable rate from 8.49%
2 year fixed rate from 9.45%
5 year fixed rate from 9.15%
Key pipeline dates
The above rates will apply to any quotes or requotes completed on or after Friday 6th January 2023. Applications at the previous rate must be funded by Friday 3rd February 2023.
New Gold Rate card
Summary of Product Changes
BTL
Variable rate increased between 0.24 – 0.50bps
- Gold Exclusive 6.75% to 6.99%
Second Charge Fixed Rate increased by 50bps
- Specialist BTL (2ndCharge) 2 year fixed 8.95% to 9.45%
- Specialist BTL (2ndCharge) 5 year fixed 8.65% to 9.15%
- Flexi BTL (2ndCharge) 2 year fixed 10.45% to 10.95%
- Flexi BTL (2ndCharge) 5 year fixed 10.15% to 10.65%
Commercial Term & Bridging Finance
- Remain Unchanged
Reminder of funding deadlines
All BTL cases on a variable rate or 2nd charge fixed rates submitted prior to 6th January 2023, will need to complete by Friday 3rd February 2023
No exceptions will be made to these dates.