Together reduces commercial finance product rates Lowering its rates by between 20 and 75 basis points
23 Jan 2024
Specialist lender Together has reduced rates across both personal and commercial finance products amid a backdrop of easing market volatility.
The financial services group aims to extend support to more broker clients following rate cuts ranging from 20 to 75 basis points (bps) across various regulated and unregulated products.
Notable changes include a 45bps cut on the Prime Plus range, bringing first charge mortgage rates down to 8.40% for a five-year fixed term.
Buy-to-let products, both first and second charge, have also witnessed rate reductions. The five-year fixed BTL rates, for instance, have seen a 40bps decrease to 7.59%, while second charge five-year fixed BTL products now start from 8.59%.
The move to lower rates aligns with the recent trend of decreasing swap rates, contributing to enhanced stability in borrowing markets.
“We’re pleased to be able to provide even more support through rate reductions across many of our personal and commercial finance product ranges,”
Marc Goldberg, chief executive of sales and distribution at Together, said.
“We are responding to improving conditions in lending markets after a great deal of turmoil over the last few years and are glad to be able to pass on reductions in our own cost of borrowing to our valued partners and their clients."
“As always, we continue to apply our common sense through our flexible criteria. However, these new reduced rates could open the door to more customers, allowing them to achieve their property ambitions.”