Largest first charge the lender has written in 10 years.
Together has provided its largest first charge deal in over a decade – a £1.7m mortgage offered through The Loan Partnership (TLP).
The clients had been buying their rented home at a cost of £2.5m. Due to timescales they had secured a bridging loan for the initial purchase, with a plan to refinance the property with a high street bank.
But during the remortgaging process the clients changed their employment status from self-employed to employed and subsequently had their application denied.
Together reviewed the application and agreed the funding with a 68% loan-to-value.
Nick Jones (pictured), national sales manager at Together, said: “The process was smooth and swift, with the binding offer made just eight days after the initial call, thanks to an excellently-packaged application and our responsive processing teams working quickly to ensure the best outcome for the customer.”
Andy Pelley, director at TLP, added: “This is an example of a where a client had demonstrated they could afford a property of this value, but didn’t have the necessary employment documents, due to their situation at the time.
“Cases like this are the reason we work with specialist lenders such as Together and highlights how our solid partnership has culminated in a great result for the customer.”
