According to the lender, rates now start from 7.15%, or from 8.6% for those with adverse credit in the last twelve months.
Affordability is based on 120% rental coverage, and personal income can be taken into account, with projected rental yields also considered. Interest-only and repayment options are available and Together also offers its buy-to-let products to limited companies.
The lender recently removed the maximum age limit and increased maximum loan size on its range.
Gary Bailey, Together’s sales director, had this to say: “Tax and regulatory changes made by the Government haven’t been in the favour of landlords recently, yet buy-to-let is still a thriving market with savvy investors being undeterred. Here at Together, we’re continually improving our offering to ensure we have a wide range of products to suit different customers’ needs and this latest reduction follows a raft of recent changes to our buy-to-let range.
Our products are aimed at customers that are underserved by mainstream lenders and typically fall outside that target market. For instance, they may have a less-than-perfect credit score, but that shouldn’t prevent them having the opportunity to invest in property. This reduction, which applies across both first and second charge loans, will mean that those who have had some adverse credit in the past year can also benefit from lower, competitive rates.”
