Recent updates.

Good news. As of 20th November 2024, even more customers will get the speed and ease of using our internal legal service.

Remortgage transactions up to £500,000 (previously £300,000) will now be managed by our internal legal team at Together. For Limited Company applications, this will be done alongside your client's solicitor. This is for transactions relating to the following products:

• Unregulated Bridge
• Buy to Let
• Homeowner Business Loan
• Commercial Term

Legal documents will now appear in the broker checklist for remortgage cases for individuals borrowing up to £500k, and you will also be able to generate legal documents up to this value. This change will apply to any new cases keyed from the 20th November 2024. We're confident that this change will allow us to support you with the required expertise and flexibility we are known for, at a greater speed.

For more information please see our valuation and legal guide.

As always, we’re constantly reviewing and expanding our offering to ensure we’re providing the quickest and highest quality service possible. So watch this space for further news.

Following on from the recent budget announcement on 30th October 2024 and a sustained period of swap rate increases, some of our product rates are increasing.

From Wednesday 20th of November 2024, interest rates will increase on the following products:

Regulated First Charge

• 2-year Fixed rates from 8.50%
• 2-year Discounted rates from 9.05%*
• 5-year Fixed rates from 7.84%

Regulated Second Charge

• 2-year Fixed rates from 8.99%
• 5-year Fixed rates from 8.35%
• 2-year Fixed Smaller Loans rates from 11.50%
• 5-year Fixed Smaller Loans rates from 9.85%
• 2-year Discounted rates from 9.74%*

The new rates will apply to any applications that are quoted or re-quoted in My Broker Venue from 20th November 2024. Any applications currently in progress will need to be submitted by 4th December 2024 to avoid the rate change, and these cases need to be progressed to offer by 18th December 2024.

*Alongside the changes above, we are also reducing the discount margin that is applied to our discounted product range, meaning discounted product rates will increase.

However, as discounted products track the THMR (Together Home Owner Managed Rate), the discounted product rates will reduce by 25bps on 13th December 2024 when the THMR reduces. We will communicate these changes to you closer to the time.

Following on from the recent budget announcement on 30th October 2024 and a sustained period of swap rate increases, some of our product rates are increasing.

From Wednesday 20th of November 2024, interest rates will increase on the following products:

Buy to Let First Charge

• 2-year Fixed rates from 8.74% (with a 2.5% Acceptance Fee)
• 2-year Fixed Rates from 6.74% (with a 7% Acceptance Fee)
• 5-year Fixed rates from 8.34% (with a 2.5% Acceptance Fee)
• 5-year Fixed rates from 7.44% (with a 7% Acceptance Fee)

Buy to Let Second Charge

• 5-year Fixed rates from 9.09% (with a 2.5% Acceptance Fee)
• 5-year Fixed rates from 8.14% (with a 7% Acceptance Fee)

Homeowner Business Loan First and Second Charge

• 5-year Fixed rates from 10.20%

The new rates will apply to any applications that are quoted or re-quoted from 20th November 2024. Any applications not yet submitted in My Broker Venue will need to reflect the new rates. Submitted applications at the previous rate must be funded by 18th December 2024.

For all our available rate and fee options, please see our product guide below.

From the 6th November 2024, customers will now have a choice of Lenders Acceptance Fees when taking a Buy to Let or Commercial Term loan with Together. Opting for a higher LAF allows for a lower interest rate to be applied to the loan, reducing the customer’s monthly payments during the fixed rate period*, providing your clients with more options and flexibility.

The new fee options will be available for any new cases keyed on to My Broker Venue from 6th November 2024.

For more information, including current rates and Lenders Acceptance Fees:

*Where a higher acceptance fee has been selected, the customer’s total amount repayable will increase over the term of the loan.

We’re committed to helping your clients achieve their property ambitions and are pleased to announce that from the 27th of September, we’re reducing the solicitor’s fee that we charge on our Unregulated Buy to Let product from 0.6% of the loan amount to 0.3% of the loan amount. This positive news means your clients are able to benefit from a reduction to the overall cost of their loan.

At the same time, our minimum solicitor’s fee across our Unregulated Bridge, Buy to Let, Homeowner Business Loan & Commercial Term products will increase from £600 to £750.

Quotes created from the 27th of September 2024 and re-quotes on cases in My Broker Venue can benefit from these changes. If a case is locked in My Broker Venue that you would like unlocking, please contact our underwriting team on 0161 933 7042.

From the 19th of September 2024, total intermediary fees that are equal to or greater than £7,000 or 10% of the net loan will be referred for review prior to the case being funded. In line with our Consumer Duty obligations, we want to make sure that we’re always able to demonstrate fair value to customers.

This change impacts fees paid on the following products:

• Regulated First Charge
• Regulated Second Charge
• Consumer Buy to Let First Charge
• Consumer Buy to Let Second Charge
• Regulated Bridge First Charge
• Regulated Bridge Second Charge

As part of this change, we may request to see your fair value assessments – so we kindly suggest you review these to ensure they are clear for third parties to understand. This will ensure any review is efficient and allows the right outcome to be reached without unnecessary delay.

You’ll find the above information displayed on My Broker Venue, and please feel free to reach out directly to the intermediary team on 0161 933 7101 if you have any questions.

From the 13th September 2024 there will be a 2bp per month reduction on both our first and second charge variable rate products for loans above £100,000. The new rates will be:

Unregulated Residential Bridge:

• First charge variable rate from 0.93%
• Second charge variable rate from 1.03%

For fixed rate unregulated bridge loans of £100,000 or under there will be an increase of 2bps:

• First charge fixed rate from 1.22%
• Second charge fixed rate from 1.32%

The new rates will apply to any quotes or requotes completed on or after the 13th September 2024.

From the 6th of September 2024, we're reducing some of our personal finance discounted product rates. These will be:

Residential First Charge:

• 2-year discounted rates from 8.85%

Residential Second Charge

• 2-year discounted rates from 9.15%

Quotes created from the 6th of September 2024 and re-quotes on cases in My Broker Venue can benefit from these changes. If a case is locked in My Broker Venue that you would like unlocking, please contact our underwriting team on 0161 933 7042.

The Bank of England’s base rate changed on Thursday 1st of August 2024. As a result of this and a recent decrease in swap rates, we’re pleased to lower a number of interest rates across our products from Friday 16th of August 2024.

Regulated First Charge
2yr Fixed rates from 8.10%
5yr Fixed rates from 7.74%
Variable rates from 9.85%

Regulated Second Charge
2yr Fixed rates from 8.40%
5yr Fixed rates from 8.05%
Variable rates from 10.35%

Buy to Let First Charge
2yr Fixed rates from 8.49%
Variable rates from 9.24%

Buy to Let Second Charge
2yr Fixed rates from 9.49%
Variable rates from 9.99%

Quotes created from 16th August and re-quotes on cases in My Broker Venue can benefit from these changes. If a case is locked in My Broker Venue that you would like unlocking, please contact our underwriting team on 0161 933 7042 for any personal finance cases or 0161 933 7082 for any commercial finance cases.

We’re excited to reveal our new and improved, interactive product guides; designed with common sense, and with you in mind.

Based on your valued feedback, we’ve made it easier and simpler to find the information you need. Plus, a brand-new interactive feature helps you quickly to navigate to our criteria, referral guide or legal and valuation guides.

Now, thanks to our new range of discounted mortgages launching on 26th July 2024, you have an exciting new product set at your disposal for personal finance clients who don’t currently want to fix their interest rate.

Discounted rate mortgages are essentially tracker mortgages, offering a discount on our Together Homeowner Managed Rate, plus product margin, for a period of two years. The interest rate will revert to our Together Homeowner Managed Rate plus product margin once the term is up.

The following rates are now available:

• First Charge 2-year discounted mortgage from 9.10%
• Second Charge 2-year discounted mortgage from 9.40%

Ben James, our Head of Product, says:

“Together are delighted to offer this new product, to allow your clients to benefit from a potential reduction in rates over the next two years. As we approach a potential downward rate environment, we anticipate that these products will be particularly attractive to customers who may want to see their payments move with market rates as an alternative to fixed rates which have dominated the market recently.”

You, our broker partners, fed back that you’d like to see us provide more clarity and simplicity across our regulated product ranges. So that’s exactly what we’ve done.

As of 26th July 2024, we’re increasing our loan sizes across our LTV bandings across our regulated products, and you can now get fully updated product cards.

Get the full info here:

Criteria detailed on the product guide is the maximum before referral. Refer applications to us and we’ll review these using our common sense approach.

As a quick summary, here's a run down of the changes, correct as of 26th July 2024.

As of 26th of July 2024, the refurbishment window for second charge regulated bridging products is changing from four weeks, to eight weeks - giving customers longer to do their work and get their property on the market. We’re also introducing this eight week refurbishment window for our first charge regulated bridging products at the same time.

Thanks to our brokers, who provided valuable feedback on our policy timelines. We’re now able to support more customers, with more flexibility.

There’s a new way for you to support clients seeking to secure regulated bridging loans, as of 26th of July 2024. Now, thanks to broker feedback, Together customers can leverage any Buy to Let securities they own in addition to their home and the new property they’re looking to purchase.

Our Buy to Let and Homeowner Business Loans will be increasing by 25bps. Here’s a run down of the changes, correct as of 26th July 2024.

Please note - These rates will apply to any quotes or requotes completed on or after 26th July 2024. Applications at the previous rate must be funded by 23rd August 2024.

As of the 26th of July 2024, there’s an increase to the rates we offer on our CBTL products.

Here’s a run down of some the changes, correct as of 26th July 2024.

• CBTL First Charge 2yr fixed from 7.75%
• CBTL First Charge 5yr fixed from 7.65%
• CBTL First Variable Rate from 9.30%
• CBTL Second Charge 2yr fixed from 8.50%
• CBTL Second Charge 5yr fixed from 8.40%
• CBTL Second Variable Rate from 9.85%

Please note – The new rates will apply to any applications that are quoted or re-quoted from 26th July 2024. Any applications currently in progress will need to be submitted by 9th August to avoid the rate change, and these cases need to be progressed to offer by 6th September.

Get the full info here:

To support your clients, we're providing you with more options and have added a new valuation panel manager - Method.

Method provides a fast, accurate and reliable way for you to obtain valuations. They'll request quotes, receive responses, instruct surveyors and send a full report back to you, all helping to save you time.

You can also access their portal, which enables valuations to be procured on our behalf to speed up the lending process, whilst ensuring the surveyor is acceptable.

What are the key benefits?

Innovate

Method xi software and processes set new standards in the valuation industry.

Efficient

Their system and processes drive efficiencies and increase productivity.

Intelligent

Their algorithms select the most appropriate surveyors for each job.

Great value

Their fees are transparent and fixed so not linked to the total valuation cost.

Transparent

They are transparent, professional and fair in all their undertakings.

Collaborative

They take a respectful and professional approach with all stakeholders.

Register with Method here

For more information or support on how to register with Method, contact:

Email: admin@method-vm.co.uk

Phone: 01642 269 306

Visit: https://www.method-vm.co.uk/

If you have a case you’re looking to place with Together contact your dedicated team on 0161 933 7101.

Following broker feedback and to help support clients, VAS have now extended their offering to include a guaranteed fee scale for standard residential properties with an estimated value of up to £2,000,000.

Benefits

• Instant instruction – no waiting for quotes.
• Consistent and transparent pricing for your applicants.
• Expedites the entire valuation journey.
• Provides access to 500+ residential valuers across the country.

For more information or support, contact VAS:

Email: info@vas-group.co.uk

Phone: 01642 262 217

Visit: www.vas-group.co.uk