"Not everyone’s income stream is straightforward but this shouldn’t stop them from being eligible to apply for finance, which is why we’ve amended our terms."
The rate for first charge residential mortgages, with a loan to value of less than 60%, has been reduced to 6.37%, whilst rates on second charge products have been cut by up to 0.72%, with new rates from 6.65% on a loan to value of 70% or less.
As well as lowering rates, the lender has adapted its criteria to make it even easier for customers across different income streams. For example, for self-employed applicants, the required tax calculations have been reduced to two years.
Pete Ball, the new chief executive of retail at Together, said: “These changes to both our first and second charge loans allow us to offer our customers some of the most competitive rates in the specialist marketplace. We regularly review our product plans and consistently strive to ensure we’re giving our brokers and customers what they want, and that’s why we’ve made a number of changes spanning rates, fees and eligibility.
“Not everyone’s income stream is straightforward but this shouldn’t stop them from being eligible to apply for finance, which is why we’ve amended our terms. It all comes back to our common sense approach and considering each case on its own merits, working with our broker partners to get the best possible customer outcome.”