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
The latest updates from Together
Updates to our Commercial Finance products
Due to the current economic climate and as a result of four recent Bank of England interest rate rises, we’ve made some changes to the rates of our Commercial product range whilst remaining competitive in our markets.
These now start from:
Buy to Let:
4.75% for loans over £150,000
Commercial Term:
7.99% with a max LTV of 65%
Homeowner Business Loans:
7.25% with a max LTV of 75%
There are no changes to our bridging rates.
You can see the full product details and updated rates in our product cards.
The new rates will be applied to any new quotations keyed onto My Broker Venue from 13th May.
Any application keyed onto My Broker Venue before 13th May must be fully submitted to underwriting, including any minimum requirements by Wednesday 1st June. All applications at the previous rate must also be funded by 14th July.
Any cases funded after 14th July must reflect our new rates.
Please bear in mind, the rate changes will also apply to any pipeline cases which are requoted on or after 13th May.