The new reduced rates are effective immediately and available on the following products:
· Prime cases: Now from 6.85% for secured loans and business loans.
· Light cases: Now from 7.87% for secured loans and business loans.
Sales director Gary Bailey said:
“These are exciting times at Together and, as always, our appetite to lend is strong. As a leading specialist lender in a competitive market, we’re consistently reviewing and improving our rates and services. Our common sense approach to lending means we can deliver fast and flexible finance solutions, via our broker partners, to markets that are underserved by mainstream lenders, and we constantly strive to enhance our value proposition.”
Recent figures show that secured loans are growing in popularity in the market. In July this year, monthly secured lending soared to £85.5 million, with monthly completions increasing by 14 per cent from May to June, then jumping a further two per cent in July. This marks a year-on-year improvement of 21 per cent more second charge activity this July compared to July 2014, with annual secured loan lending figures on track to succeed the £1 billion mark by the end of this year.
Together is meeting this growing demand by providing new competitive rates to provide businesses and individuals with vital access to funding through its broker network, with a current loan book of £1.4 billion.