We use cookies to give you the best possible experience on our website. If you continue without changing your settings, we'll assume that you're happy to receive all the cookies on our website. However, you can change your cookie settings at any time.

Your Privacy

When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalised web experience.
Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

Strictly Necessary Cookies

(Req)

These cookies are strictly necessary for the Website to work properly and for us to keep it secure. They are needed to allow users to use the Website and its features, including to move between pages of the website.

These cookies are required

Performance and analytical cookies

These cookies allow us to collect certain information about how a user navigates the Website. These cookies collect information that is used either in aggregate form to help us understand how our site is being used or how effective are marketing campaigns are, or to help us personalise our site for you. We use Google analytics and Bing 1st party cookies and DoubleClick 3rd party cookies for reporting purposes.

Marketing cookies

These cookies are used to make advertising messages more relevant to you. We may use this data to tailor the marketing and ads you see on our own and other websites and mobile apps, including social media.

Together increases its personal mortgage loan size to £1 million

03 February 2017

We have increased our maximum personal mortgage loan amount to £1m to expand our customer base and address rising property prices.

The new maximum loan size will be available for purchase, remortgage and right-to-buy applications, with a loan-to-value of up to 50 per cent.

 The increase will allow us to offer our specialist services to a wider range of customers, serving those that may not be able to secure the funding they require from a mainstream bank.

Pete Ball, chief executive of personal finance at Together, said: “At Together we’ve always recognised that the need for specialist finance is diverse and we constantly review our products to ensure we’re meeting customer needs. That’s why we’ve decided to increase our maximum loan size for personal mortgages, as we were seeing demand for bigger loans, in line with the current housing market, alongside an expanding customer base.

“Our recent customer insight data shows that our main three customer groups are high-income professionals, older working families, and those on the road to retirement, and they may turn to specialist finance providers for a variety of reasons. It could be that they are self-employed, or it could be about the property, which may not fit the ‘standard’ classification. What this goes to show is that the demand for specialist finance is growing and we’re adapting our products to suit a broader demographic, in recognition of that.”

In addition, we have increased our maximum loan amount for purchases up to 75 per cent loan-to-value from £200,000 to £250,000, increased our maximum loan size for purchases, remortgages and right-to-buy from £250,000 to £500,000 and our shared ownership limit from £200,000 to £250,000. In response to the significant increase, cases over £500,000 will be manually underwritten.

We have also launched simplified product guides and are improving our affordability assessment for all personal lending products.

 

 


Share

Pete Ball

Build: 1.3.7.17660