"We are pleased to be able to strengthen our relationship further by offering our members this new semi-exclusive product."
The new semi-exclusive product, which features Together’s lowest ever buy-to-let rate, is available through a select group of distributors.
It features a variable rate of 4.99% for loans of £200,000 and above, rising to 5.49% for loans below £200,000. The maximum LTV for all loan sizes is 70%.
A range of property types will be accepted, such as holiday lets, HMOs and student lets (including 100% residential MUFBs). In addition to first-time buyers and first-time landlords, Together will also accept expats and non-UK nationals for the new product.
Ying Tan, founder and chief executive of Dynamo for Intermediaries, said: “Together’s recent decision to begin cautiously increasing its lending volumes was warmly welcomed by the industry and we are pleased to be able to strengthen our relationship further by offering our members this new semi-exclusive product.
“We have seen a recent rise in the number of enquiries from would-be landlords both home and abroad as people look to take advantage of the current tax benefits, so the wide range of acceptable client profiles for this product will be particularly appealing.”
Sundeep Patel, head of intermediary sales at Together, added: “It has been a challenging few months for the industry but we have continued to work closely with our key distributors throughout this turbulent period.
“At Together, we’ve spent a lot of time talking to our partners and understanding their needs. Following excellent feedback, we’re delighted to launch our new buy-to-let product to deliver the best possible outcomes for their landlord customers.”
