Together marks 1,000th networks and clubs deal
The applicants secured a £51,000 first charge mortgage on a one-year repayment term to purchase an 18% share of a three-bedroom semi-detached house in Hereford.
Together marked its 1,000th deal through its networks and clubs channel, helping a couple buy their first home using a Shared ownership mortgage.
The applicants secured a £51,000 first charge mortgage on a one-year repayment term to purchase an 18% share of a three-bedroom semi-detached house in Hereford.
The property’s current market value is £300,000, with a full valuation confirming this figure.
Through the Shared Ownership scheme with the housing association, the couple bought an 18% stake in the property for £54,000, resulting in a loan-to-value (LTV) of 17%.
Together used its flexible underwriting to assess the applicants’ circumstances and support their homeownership plans.
Tanya Elmaz (pictured), managing director of intermediaries at Together, said: “Reaching 1,000 networks & clubs completions is a fantastic milestone for Together and demonstrates the strength of the relationships we have built with brokers across the UK.
“This case is a great example of how we can support aspiring homeowners who may be taking their first step onto the property ladder through alternative routes such as shared ownership.
“At Together, we understand that every customer’s circumstances are different.”
Elmaz added: “By taking a common-sense approach to lending and looking at each case on its own merits, we’re able to help more people achieve their property goals.”
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