Our business purpose loans are the business

Sometimes a cash injection is all you need to boost your business or start a new one, our business purpose loan is designed to help. It allows you to use the equity you already have in your home to fund a business purpose. A start-up perhaps or some much needed investment in new equipment. Our approach to lending considers your individual circumstances, not just your credit profile. So even if you’ve had previous problems, you could still get a business purpose loan with us.

We’ll consider business purpose loans for:

• all standard residential property types
• ex-council houses, flats and maisonettes
• high-rise properties (yes, even ones above 6 floors)
• properties with poor valuations (when the property is in a less than perfect condition)
• non-standard constructions (when the property you want is a little out of the ordinary)

Key features

• Loans from £5,000 to £2,000,000
• Up to 75% LTV (loan to value)
• CCJs and Defaults accepted (up to 70% LTV)
• Variable rates from 5.99%
• 5-year fixed rates available from 6.99%
• Interest-only repayment options available

With added value

We consider a large variety of property types. And after 5 years, we don't hit you with early repayment charges if you want to pay off your mortgage early, so you’re not tied into the secured business loan for the full term; leaving you to think about your next project.

Business purpose lending criteria

These loans are treated as an unregulated mortgage contract if:

• the loan amount is more than £25,000 and;
• at least 50% of the loan amount is being used for business purposes

OR

• the loan is in a limited company name and secured against the director’s home

If you don’t meet these criteria, don’t worry, you can still apply for a business purpose loan with Together by applying for one of our regulated secured loans.

Our general lending criteria

• Maximum LTV (loan to value) – 75%
• Maximum loan – £2,000,000
• Variable rate terms – 4 to 30 years
• Fixed rate terms – 5 years then variable rates
• Maximum age – 80 years at end of term
• Credit profile – CCJs and Defaults accepted (even in the last 12 months)
• Income types – employed, self-employed, temporary/zero-hour contracts, DWP benefits, pension
• We accept loans against non-standard property types