Why choose a Together Personal mortgage?
We're a specialist lender. We exist to help people who would likely be turned down by mainstream lenders. Perhaps it's your employment status, your credit history, or the property itself that doesn't fit neatly into the big names' tickboxes.
Whatever it is, we'll look at your application and use our common sense – not computers – to make the final decision about whether we can lend to you.
What are my mortgage options?
There are lots! Your mortgage can last up to 40 years, on a capital repayment or interest-only basis. You can choose a fixed-rate for a set period at the start of your mortgage, or you can choose a variable-rate option for the duration.
Our qualified mortgage advisers can help you identify the best option for you, based on your circumstances and what you can afford.
How do you decide my interest rate?
The rate you're offered may be influenced by several factors, including:
- How much you need to borrow (both in total, and as a percentage of your property's value).
- Whether you're buying through a Shared Ownership or Right to Buy scheme, or not.
- The property you're taking out the mortgage for.
- Your credit history (but not your credit score).
Our Personal mortgages rates tend to be higher than many mainstream lenders, because of the extra risk associated with the mortgages we provide. So if we think the products available on the high street are better suited to your circumstances, we'll suggest you shop around before completing an application with us.
At most, we can lend you 75% of your property's value. So you will need at least 25% as a deposit, or as equity.
We look at the property's market value when calculating these figures. So if you're buying a Shared Ownership property, or are receiving a discount through the Right to Buy scheme, you may be able to borrow up to 100% of your purchase price.
What documents do I need to apply?
You'll need to provide proof of ID, proof of your address history, and proof of income. Exactly what documents we'll accept as proof will depend on your individual circumstances, so we can tell you over the phone.
How long does it take to arrange a mortgage?
It typically takes several weeks to arrange a mortgage.
As a responsible lender, we're duty bound to ensure you can afford the loan you're applying for. So we may take longer to underwrite your case, or request more documentation.
What fees will I have to pay?
We charge an Arrangement Fee. Depending on the mortgage you take, you may have to pay an Early Repayment Charge if you decide repay the mortgage before the end of the term.
We charge a Redemption Administration Fee when you 'redeem' (i.e. full repay) your mortgage, to cover costs associated with closing your account and dispensing our legal claim to your property.
All of these fees can vary, so we'll ensure that the fees that apply to your particular mortgage are clearly explained before you sign on the dotted line.
Other fees and charges may be applied to your account during the life of your loan, in relation to the management of your account (for instance, if you fall behind on your monthly payments). These are all explained in our Tariff of Charges.
Your home may be repossessed if you do not keep up repayments on your mortgage.