"We’ve launched our lowest ever residential mortgage rates in response to what we believe is a strong market demand from would-be customers"
Together's two-year fixed Prime Plus product is available at 3.59% for first charge mortgages up to 75% LTV through Together’s broker distribution and direct sales channels.
The same rate will apply to borrowers wanting to remortgage their properties at up to 70% LTV.
Interest-only and capital repayment options are available and they come with a fixed £1,495 non-refundable arrangement fee, early repayment charges of between 2% and 3% of the balance outstanding and a 5% overpayment allowance.
The limited edition mortgages are available for amounts of between £25,000 and £1 million for standard and non-standard properties.
Self-employed customers, freelancers and contractors, those on zero-hour contracts, retired people and those on benefits, as well as those in full-time employment may also fit Together’s criteria for its Prime Plus product subject to an affordability assessment.
Together will consider applications from customers with CCJs which have been settled for at least two years, as eligible for the new rate, as well as borrowers who have missed one first or second charge mortgage payment from more than one year ago. The new product comes with a free standard valuation and lender legals.
Richard Tugwell, group intermediary director at Together, said: “We’ve launched our lowest ever residential mortgage rates in response to what we believe is a strong market demand from would-be customers who have had some adverse credit in the past.
“For example, they may want to purchase a new home or remortgage their current property but may not be able to because they have historical defaults or CCJs – which may mean mainstream lenders will not even consider their application.
“Customers could also be buying a home of non-standard construction, such as one made predominantly of steel or glass, or an ex-council flat, all of which could make it difficult for them to get finance from high street banks or building societies.
“This product range, with a competitive rate of 3.59% will mean they could get an affordable mortgage, even if they don’t fit the strict criteria of the mainstream – to help them realise their home-owning aspirations.”
