"Despite the challenges of the pandemic, the property market has performed well, meaning the bridging finance industry has remained strong."
Together has cut rates, increased LTVs and doubled maximum loan sizes in a refresh of its unregulated bridging products.
The specialist lender has repriced its short-term loans for residential investment to 0.55% at up to 50% LTV and at 0.65% at up to 60% LTV. Previously, rates for these products were 0.65% and 0.75%, respectively.
Unregulated bridging loans for commercial property have seen rates lowered to 0.85% at 60% LTV and to 0.90% at 70% LTV, while maximum LTVs have been increased from 65% to 70% for purchases and from 50% to 65% for refinancing.
Meanwhile, the lender has doubled maximum loan sizes across its unregulated bridging range to £1million.
Marc Goldberg, commercial CEO at Together, said: “Despite the challenges of the pandemic, the property market has performed well, meaning the bridging finance industry has remained strong. We expect this positivity to continue as restrictions have been fully lifted. That’s why we’re introducing these latest changes to provide more options for borrowers.
“As one of the UK’s leading bridging lenders, we’ve become renowned for providing fast finance with ease and flexibility, and we believe these latest changes will give us even more of an edge in what is a very competitive bridging market, providing even more positive outcomes for our customers and intermediaries’ clients.”