Together has reduced rates on its term and bridging products following the Bank of England’s recent base rate cut.
The bank lowered its base rate by 0.25% to 4.5%, the lowest level in over 18 months.
2-year fixed rate buy-to-Let (BTL) and commercial term products dropped by 0.25%, 5-year fixed rates by 0.15%, and variable rate products by up to 0.25%.
Unregulated variable bridge rates went down by 0.02% per month.
New 2-year fixed BTL rates start at 8.49% with a 2.5% fee, and variable unregulated bridge rates begin at 0.91% per month.
In personal finance, first and second charge mortgages, along with consumer BTL products (CBTL), saw reductions too.
Rates fell by 0.25% for 2-year fixed products, 0.15% for 5-year fixed products, and up to 0.25% for variable rates.
Regulated bridging rates dropped by up to 0.05% per month.
Regulated first charge products now offer 2-year fixed rates from 8.25% and 5-year rates from 7.69%, with regulated bridge product rates starting at 0.85% per month.
Tanya Elmaz (pictured), director of intermediary sales at Together, said: “The Bank of England’s base rate cut earlier this month and recent changes to market rates will be welcome relief to mortgage borrowers and businesses.
“We are pleased to be able to pass on potential savings to our valued brokers and their customers by reducing rates across many of our own flexible finance options.”
