Together increases the size of unregulated bridging and BTL loans

Together has increased the maximum loan size across all of its unregulated and buy-lease bridge lines.

The Cheadle-based specialist lender has said it has increased the maximum amount of its bridging proceeds from £ 2million to £ 5million “as it seeks to further develop its loan portfolio after the pandemic”.

He adds that the maximum loan amount for the company’s first BTL products has been increased from £ 2million to £ 2.5million and from £ 500,000 to £ 1million for its second charge BTL loans. .

Together Chief Commercial Officer Marc Goldberg said: “We are seeing growing demand for larger loans to support property ambitions of homeowners and investors as the UK continues its economic recovery from Covid.

“These borrowers tend to be more complex, perhaps due to their income or the type of collateral, so claims should be expertly underwritten by knowledgeable lenders with experience in the commercial real estate market.

“Ensemble reviews each funding request on a case-by-case basis, which means we are uniquely positioned to provide the fast and flexible financing needed to achieve the best results for our clients. “

The company adds that it is reducing the minimum loan amount on its unregulated BTL products from £ 50,000 to £ 30,000 to support investors at the other end of the spectrum looking to maximize returns on lower value properties .

In September, the lender priced its first residential mortgage securitization at £ 318million.

The portfolio consists of a portfolio of owner occupied and rental residential mortgages secured by properties in England, Wales and Scotland.

The company has raised or refinanced more than £ 1.9bn since the start of this year to support its loans.

Previous FOS unveils an action plan to improve service
Next Mortgage Advice Bureau invests in partnership with Heron Financial