Mortgages

Together halts new lending amid Covid-19 outbreak

The Group said it will focus its attention on customers currently in its pipeline.

Rozi Jones
|
24th March 2020
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"It is difficult to provide any degree of clarity on the potential implications to Together arising from Covid-19"

Together has announced that it will not be accepting any new loan applications in light of the Covid-19 pandemic.

The Group said it will focus its attention on customers currently in its pipeline, "ensuring an assessment of their current situation is undertaken whilst honouring our commitment of mortgage offers as appropriate".

In a statement, Together said: "At this time, given the general uncertainty, it is difficult to provide any degree of clarity on the potential implications to Together arising from Covid-19 or the government's and/or regulator's current or future responses to tackling the situation.

"We are closely monitoring official governmental guidance and where appropriate implementing changes to our forbearance policies in order to support our customers who are impacted by Covid-19. These include the adoption of measures to support the government's recent announcement on three month payment holidays.

"We are also redeploying colleagues from across the business to help with the expected increase in contact from our existing customers about their individual circumstances.

"We continue to manage the company on a prudent basis and to monitor the situation carefully. We will provide further updates as and when appropriate."

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