Together launches its lowest BTL mortgage rate
Specialist lender Together has introduced a raft of changes to its buy-to-let products – including introducing its lowest ever rate – to help landlords looking to buy or refinance.
Rates on its first charge BTL range have been lowered from 4.99% to 4.49% – the lender’s lowest ever – while maximum remortgage and second charge LTVs have been raised from 70% to 75%, in response to fast-growing demand for its flexible products.
Together announced its five-year fixed BTL mortgage rates have also been cut from 5.49% to 4.99% and two-year fixed from 5.19% to 4.79%. Meanwhile, second charge BTL variable rates are now 5.99%, down from 6.99%, the joint lowest on the market.
Sundeep Patel, director of sales at Together, said: “We’re delighted to be able to offer our lowest ever rates as part of a series of changes to our BTL products.
“The BTL lending market has become increasingly competitive since the start of the year with new entrants into this space and, in introducing these changes, we want to make sure that we’re offering the right solutions for clients at the right rates.
“At Together, we have spent a great deal of time getting invaluable feedback from our broker community so that we can simplify, improve and refine our award-winning products to make sure that intermediaries can provide their clients with the best outcomes.
“Our product changes will allow them to achieve their ambitions, whether that’s buying their first rental property, remortgaging to a more competitive deal, or expanding an existing portfolio.”
Together has recently published a blog for intermediaries in which Patel and senior product manager, Matt Kelly, give their views on the future of the BTL market over the next 12 months.