In This Article
Who are Together?
Together Money is a specialist lender that offers personal, commercial and buy to let mortgages, as well as short-term finance, auction finance, and secured loans.
It was founded in 1974 and is committed to common sense lending.
In 2015, its parent company Blemain Finance and Lancashire Mortgage Corporation pooled all lending arms under one brand, which emerged as Together.
As its name suggests, Together partners with its customers – who may be investors, homebuyers, landlords, property professionals, or small businesses – and an extensive network of intermediaries, who include brokers, solicitors, accountants, financial advisers and banks, to obtain the finance their clients need.
The fundamental proposition of Together is that an individual approach is taken to each case, which often enables faster response times – a significant factor in the business’s growth over the past years.
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What finance do Together specialise in?
Together aims to cater to various customers in many different situations by providing the finance needed for them to move up, move in, start something, and get on.
The business looks at every case, however, complicated – separately and afresh, and always endeavours to take each customer’s circumstances into account before attempting to see if there is any way to help.
Together residential mortgages
They offer residential mortgages on both a first and second-charge basis for first-time buyers, home movers, those needing a remortgage and those requiring large loans.
Together buy to let mortgages
Together buy to let mortgages may be suitable for accidental landlords, first-time investors, and professionals with extensive buy to let portfolios.
Together commercial and bridging loans
Finally, Together bridging loans can be used on residential properties to repair a broken chain, release capital, or for any other reason.
Helping those who do not fit the mould
Together are open to helping those who may not fit the mould of a traditional mortgage customer. Categories such as:
- Already retired, or retiring before paying off their mortgage
- Self-employed, has complex income or is on a zero-hour contract
- Relying on bonuses, overtime, and benefits for affordability
- Affected by adverse credit events
- New to the UK, with little or no credit history
- Buying through Right to Buy or a Shared Ownership scheme, or at auction
- Being gifted a deposit or equity
Additionally, Together are also open to properties that may not fit with the mainstream lenders. If the property is:
- Ex-council
- High-rise
- Of non-standard construction (e.g. concrete, steel- or timber-framed)
- An unusual conversion
- A self-build (with the relevant guarantees)
- Defective or in need of significant renovation (i.e. Japanese knotweed, uninhabitable, fire-damaged, etc.)
Together mortgage rates
Together could be considered if you’re looking for a mortgage and don’t fit the criteria of the mainstream banks.
The lender offers a broad product range for those who may find it challenging to get a mortgage in the market. Therefore their pricing is generally higher.
However, like any mortgage, it’s important to compare interest rates, fees charged and the quality of the lender’s service before making a decision.
A low credit score will impact the interest rate you’re offered.
Also, the lender charges some fees (e.g. application and origination fees).
Should I remortgage via a broker with Together?
You will need to speak to Together if you are already a customer.
As Together offers mortgages to underserved customers whom mainstream lenders may not consider rates are generally higher, you should investigate if you can remortgage to a more competitive rate.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with your current lender.
Are Together quick to get a mortgage offer?
Together average time from application to offer is around four weeks. However, this duration may be extended for more complicated deals, for example, due to bad credit, a non-standard property type, or complex mortgage cases.
The average time for a bridge is generally quicker, typically around two weeks.
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What do I do if Together has declined to lend to me?
If you’ve been declined a mortgage from Together, a mortgage advisor could help you find another lender willing to give you a mortgage.
Together offers a relaxed approach to their underwriting, whether based on the individual or the property. However, other lenders could still help you.
An expert mortgage advisor may be able to help you find a lender, regardless of your financial situation and your registered credit profile. If you want more details about your credit history, you can go to Check My File to sign up for a free trial.
Conclusion
Together Money is a specialist lender that offers personal, commercial and buy to let mortgages, as well as short-term finance, auction finance, and secured loans.
They partner with their customers – investors, homebuyers, landlords, property professionals, or small businesses – and an extensive network of intermediaries, including brokers, solicitors, accountants, financial advisers and banks, to obtain the finance for their client’s needs.
The lender is committed to common sense lending aiming to cater to a variety of customers in many different situations and to help those who may not fit the mould of a traditional mortgage customer or property.
They offer residential mortgages on both a first and second-charge basis for first-time buyers, home movers, those needing a remortgage and those requiring large loans, with an average application to offer to take four weeks.
Together’s buy to let mortgages are perfect for accidental landlords, first-time investors, and professionals with extensive portfolios.
Finally, Together’s bridging loans can be used on residential properties to repair a broken chain, release capital, or for any other reason. Their bridging finance can be arranged as quickly as a couple of weeks.
They offer a broad product range for those who may find it challenging to get a mortgage in the market. Therefore their pricing is generally higher. You should investigate if you can remortgage to a more competitive rate.
Should you want to speak to a mortgage advisor, please complete the contact box below, and I NEED ADVICE will match you with an expert mortgage advisor who can review the whole market and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
