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Secured Loans
Together Money is a specialist lender that considers self-employed applicants, adverse credit, and non-standard properties that many high-street lenders turn down. Here's what to expect from their secured loans, based on our review of their criteria, process, and customer feedback.
Together Money is a well-established specialist lender worth considering if you've struggled to get a secured loan elsewhere. Founded in 1974, they take a manual, case-by-case approach to underwriting rather than relying purely on credit scoring, which makes them particularly suited to:
Because they take on more complex cases, Together Money's rates are typically higher than mainstream lenders, and they're not usually the cheapest option in the specialist market either. It's worth comparing them against other specialist lenders, such as Pepper Money, United Trust Bank, or Shawbrook, before committing. Applications typically take around 3-4 weeks from start to completion, though complex cases can take longer.
Together Money is one of the UK's longest-established specialist lenders, offering secured loans to homeowners who don't always fit the criteria of high-street banks. With over 50 years in business and a loan book exceeding £6.2 billion, they've built a reputation for considering applications that mainstream lenders often decline.
In this review, we cover their eligibility criteria, application process, fees, and how they compare to other specialist lenders, along with the pros and cons based on customer feedback and our own experience working with them.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
The bottom line: Together Money stands out for its flexibility with complex cases. Applications are considered individually rather than relying solely on credit scoring, which makes them a strong option if you've been declined elsewhere due to self-employment, adverse credit history, or a non-standard property type. Their rates are typically higher than mainstream lenders, so they tend to suit borrowers who can't access cheaper alternatives.
Together Money has been helping UK homeowners access finance since 1974 - over 50 years in the lending business. Originally trading under several brands, including Blemain Finance and Lancashire Mortgage Corporation, they unified under the Together Money name in 2015.
Together operates as a specialist lender, which means they focus on customers who don't fit the criteria of mainstream banks. This includes self-employed people, those with non-standard income, borrowers with adverse credit history, and those with unusual property types.
Together Personal Finance Limited is authorised and regulated by the Financial Conduct Authority. This means they must follow strict rules about how they assess affordability, communicate with customers, and handle complaints.
The company is registered in England and Wales, with its registered office in Cheadle, Cheshire.
As a lender authorised and regulated by the Financial Conduct Authority, Together must:
Being authorised and regulated by the Financial Conduct Authority doesn't mean a lender is cheap or automatically the right fit for you. It means they're held to minimum standards on affordability checks, transparency, and complaint handling. It's still worth comparing more than one specialist lender before you commit.
Before looking at Together Money's specific products, it's worth understanding how secured loans work if you're new to this type of borrowing.
A secured loan (also called a second charge mortgage or homeowner loan) uses your property as security. If you don't keep up repayments, the lender could ultimately repossess your home to recover what you owe.
Secured loans are generally easier to get approved for than unsecured loans because the lender has collateral to fall back on. They often come with longer repayment terms than unsecured loans, and making timely payments can help improve your credit score. Because they're secured against your home, though, the stakes are higher if things go wrong.
Common uses for secured loans include debt consolidation, funding major life events such as weddings, breaking a property chain, and helping a family member with a property deposit.
Your mortgage is a 'first charge' on your property - if you sold your home, the mortgage would be paid off first. A secured loan sits as a 'second charge' behind your mortgage. This means:
There are several situations where a secured loan makes more sense than remortgaging.
You're locked into a good mortgage rate. If you're on a competitive fixed rate mortgage with high early repayment charges, a secured loan lets you borrow more without giving up that rate.
You need to raise funds quickly. Secured loans typically complete faster than remortgages, often in 3-4 weeks rather than 8-12 weeks.
You've had credit issues since taking your mortgage. If your credit score has dropped, you might struggle to remortgage at a competitive rate. A secured loan from a specialist lender may be more accessible.
You're self-employed with recent income changes. Specialist secured loan lenders are often more flexible about income evidence than mainstream mortgage lenders.
Not sure where to start?
An advisor can talk through your mortgage rate, your credit history, and how much you need to borrow, then compare a wide range of lenders, including Together Money, to find options that suit your circumstances.
Together offers both variable and fixed rate secured loans, with terms ranging from 3 to 30 years. Their secured homeowner loans let you borrow using your home as collateral, and they accept a wider range of property types than many mainstream lenders, including some non-standard properties such as high-rise flats and homes built from unconventional materials. Together's secured loans are designed to work alongside your existing mortgage rather than replace it.
Together's variable rate products are available on terms from 3 to 30 years. With a variable rate, the rate - and therefore your monthly payment - can move up or down during the loan term in line with changes to their standard variable rate.
For borrowers who want certainty over their payments, Together offers fixed rate options on terms from 5 to 30 years. Your rate stays the same for an agreed period (typically 2, 3, or 5 years), after which you'd move onto their standard variable rate.
Speak to an advisor for current rates and a personalised illustration based on your circumstances.
The amount you can borrow depends on several factors, including your property value, existing mortgage, income, and credit profile. It's worth carefully assessing your borrowing needs before you apply, so the loan amount and term align with your financial goals.
Together Money secured loans typically allow you to borrow larger amounts than unsecured loans, with repayment terms that can stretch over many years. That flexibility can be useful, but longer terms and larger amounts can also tempt borrowers to overextend themselves financially, so it's worth borrowing only what you need.
Your loan-to-value (LTV) ratio is calculated by adding your existing mortgage to your new loan, then dividing by your property value.
Example: if your property is worth £300,000, your existing mortgage is £180,000, and you want to borrow a further £50,000, your combined lending would be £230,000 - an LTV of around 77%.
Generally, the lower your LTV, the more competitive the rates you're likely to be offered. Together applies different rate tiers depending on where your LTV falls, with more competitive rates reserved for lower LTV bands and higher LTV bands typically requiring stronger income evidence.
Beyond LTV, Together considers:
One of Together's strengths is their flexibility with eligibility. They take a common-sense approach, looking at each case individually rather than rejecting applications based purely on automated scoring.
Together is notably flexible on income evidence, which makes them popular with self-employed borrowers and those with non-standard income.
Employed income: payslips (typically the last 3 months), P60s, and bank statements showing salary credits.
Self-employed income: SA302 tax calculations, tax year overviews, accountant's certificates, business bank statements, and company accounts (typically 1-2 years).
Other income considered: pension income, rental income from buy-to-let properties, part-time employment, overtime and bonuses (with evidence of regularity), benefits, and zero-hours contract income with sufficient history.
Together considers borrowers with adverse credit, but the specifics matter.
What they may accept: historical defaults (especially if satisfied), previous County Court Judgments, missed payments on credit accounts, and lower credit scores.
What they don't accept: active bankruptcy (it must be discharged for at least 2 years for secured loans), an active IVA or debt management plan, and debt management schemes not discharged for 6 years.
Adverse credit will affect the rate you're offered. Speak to an advisor for a personalised illustration based on your circumstances.
Together lends on a wider range of property types than mainstream lenders.
Standard properties accepted: houses (detached, semi-detached, terraced), flats and maisonettes, bungalows, and new-build properties.
Non-standard properties considered: ex-local authority homes, properties with short leases (subject to a minimum term), non-standard construction, properties needing renovation, flats above commercial premises, and high-rise flats (assessed case by case).
Properties excluded: properties in serious disrepair requiring structural work, some timber-framed or prefabricated buildings (case by case), and properties without basic amenities.
Self-employed applicants often assume a couple of bad years will rule them out. Together generally looks at the wider picture - if you can show 1-2 years of accounts and a reasonable explanation for a dip in income, it's still worth applying.
See what could be available to you before you commit to an application.
Understanding the full cost of borrowing is essential before committing to any secured loan.
Together's rates depend on your LTV, credit profile, and whether you choose a fixed or variable product. Broadly speaking, borrowers with a clean credit history and a lower LTV are offered more competitive rates, while borrowers with adverse credit or a higher LTV are offered less favourable rates to reflect the additional risk to the lender. Rates change regularly, so speak to an advisor for current figures and a personalised illustration.
As well as interest, it's worth budgeting for the following types of fee. Together will confirm the exact amounts that apply to your loan before you commit.
Together allows overpayments without penalty on many of its variable rate products, which is a significant advantage if you want the flexibility to pay off your loan early.
For fixed rate products, early repayment charges typically apply during the fixed period. Check your specific loan agreement for details.
Secured loans carry significant risks that you need to understand before proceeding. Your home serves as security for the lender, and if you default on the loan, you risk losing it. Timely repayment is essential, both to protect your home and to maintain a positive credit history.
This isn't just small print - it's the fundamental reality of secured borrowing. If repayments aren't kept up, Together can ultimately apply to repossess the property. The lender would sell it to recover what's owed, with any remaining funds going to the borrower (or other secured creditors) after costs.
Before taking out a secured loan, it's worth asking:
If you're worried about keeping up with repayments on any loan secured against your home, contact your lender as early as possible. Free, impartial guidance is also available from MoneyHelper on 0800 138 7777.
With a variable rate product, monthly payments can increase if the underlying rate rises. It's worth checking whether payments could still be met if rates moved upwards before committing to a variable rate loan.
With terms up to 30 years, a secured loan is a significant long-term commitment. Over that time:
Taking out a secured loan reduces the equity available in a property. This could affect the ability to:
Together aims to make the application process straightforward, though most applications go through a broker rather than directly to the lender. You'll need to provide documents to confirm your identity, income, and financial situation, and the lender will assess the value and suitability of your property as security.
Once approved, you'll receive a loan offer setting out the terms, interest rate, and repayment schedule. It's worth reviewing this carefully before signing the loan agreement, and thinking through how the repayments fit your overall financial plans.
Complex cases, such as adverse credit, non-standard properties, or unusual income, may take longer than this typical timeline.
How it works
Initial enquiry
Contact Together directly or through a broker with basic details: the property you're securing against, your existing mortgage, how much you want to borrow and why, your income and employment, and an overview of your credit history. A soft credit search is carried out at this stage, which won't affect your credit score.
Agreement in principle
If the initial assessment looks positive, Together can provide an agreement in principle. This indicates they're likely to approve your application subject to full checks and a valuation, but it isn't a guarantee.
Full application
You'll need to provide proof of identity, proof of address, income evidence, recent bank statements, your mortgage statement, and details of other debts and credit commitments.
Valuation
Together arranges a valuation of your property. In many cases they use an automated valuation model, which speeds things up. More complex cases or higher LTVs may require a physical valuation.
Underwriting
Together's underwriters review affordability, credit profile, the suitability of the property as security, and how the loan fits with your overall debt-to-income ratio.
Offer and legal work
If approved, you'll receive a formal offer. Together's solicitors handle the legal work, including registering the second charge with the Land Registry and obtaining consent from your first charge mortgage lender.
Completion
Once the legal work is complete, the funds are released, typically paid directly to your bank account or to creditors if you're consolidating debts.
How a lender treats its customers matters just as much as its rates and criteria. Together offers a mobile app for paperless applications and document submission, alongside more traditional contact channels.
Together app. Customers can communicate with Together through their mobile app, which many reviewers mention as convenient for exchanging documents and tracking application progress.
Dedicated points of contact. Several customer reviews mention being assigned a specific person to handle their case, providing continuity throughout the process.
Existing customer support. Customers who already have a loan with Together and run into difficulty can speak to a dedicated team about payment options.
Based on Trustpilot reviews (4 out of 5 stars from over 2,000 reviews), customers commonly mention the following.
Positive feedback:
Negative feedback:
My experience with Together was very positive from start to finish. The approval process was efficient, transparent, and well-managed, which gave me confidence at every stage.
They took ages and every week they wanted more information. It took 90 days and finally said no. They could have asked for everything at once.
Together operates in a competitive specialist lending market. Here's how it stacks up against some key alternatives.
When to choose Together Money: better for non-standard properties and complex self-employed income situations.
When to choose Pepper Money: if a higher LTV (up to 100%) is needed, or a lower rate is the priority - always confirm current rates and LTV limits directly with the lender or an advisor.
When to choose Together Money: stronger with unusual property types and complex credit.
When to choose United Trust Bank: similar profiles overall - it's worth comparing current rates and criteria for your specific situation.
When to choose Together Money: if dealing with a lender directly is preferred.
When to choose Norton: if using a broker to compare multiple options is preferred, especially for more severe adverse credit.
Together sits in the mid-range of specialist lenders:
Based on their products and approach, Together Money tends to suit certain borrowers better than others.
Decision checklist
We can connect you with specialist secured loan advisors who work with Together Money and compare them against other lenders on your behalf.
We compare a wide range of lenders, including Together Money, to find options that match your circumstances. You can access expert advice with no pressure to proceed at any stage.
Getting started
Common questions
Yes. Together Money has been operating since 1974 - over 50 years in the UK lending market. Together Personal Finance Limited is authorised and regulated by the Financial Conduct Authority. They're one of the larger specialist lenders in the UK, with a loan book exceeding £6.2 billion.
Together was founded in 1974, making it one of the longest-established specialist lenders in the UK. The company rebranded under the Together Money name in 2015, bringing together several previous lending brands.
Yes, but they take a different approach to mainstream lenders. Credit searches form part of their assessment, but they don't rely solely on credit scores. Underwriters review applications individually, considering the overall picture rather than rejecting based on automated scoring alone.
The initial enquiry typically uses a soft search, which doesn't affect your credit score. If you proceed to a full application, a hard credit search will be recorded, which other lenders can see.
Typically you'll need proof of identity (passport or driving licence), proof of address (a recent utility bill or bank statement), income evidence (payslips, P60, or SA302 and tax calculations if you're self-employed), bank statements from the last 3 months, your current mortgage statement, and details of any other debts.
Yes, Together considers applicants with adverse credit history, including historical defaults, missed payments, and County Court Judgments. They don't accept applicants currently in bankruptcy, an IVA, or a debt management plan. The severity and recency of any credit issues will affect the rate offered.
Typically 3-4 weeks from application to funds being released, though complex cases may take longer. Some straightforward applications complete faster.
On many Together products, you can overpay or repay early without penalty. Some fixed rate products may carry early repayment charges during the fixed period, so check your specific loan agreement.
Yes, Together offers Consumer Buy-to-Let products for landlords who want to release equity from rental properties, with terms available from 4 to 30 years.
You can apply up to age 85, but the loan typically needs to be repaid by your 80th birthday. This means the maximum term available reduces for older applicants.
You can approach Together directly through their website or by phone, but many of their products are primarily distributed through brokers. A broker can also compare Together against other lenders to help you find options that suit your circumstances.
Together sits in the mid-range of specialist lenders. Rates are typically higher than mainstream lenders, because they accept cases mainstream lenders decline, but they're broadly competitive within the specialist market. Some competitors, such as Pepper Money, may offer lower rates for certain credit profiles.
Contact Together immediately if you're struggling. As a lender authorised and regulated by the Financial Conduct Authority, they must treat you fairly if you experience financial difficulty. Continued missed payments could ultimately lead to repossession action. Free, impartial guidance is also available from MoneyHelper (moneyhelper.org.uk, 0800 138 7777).
Yes, Together secured loans can be used for most legal purposes, including home improvements, debt consolidation, major purchases, school fees, and family financial help. Some restrictions may apply to business purposes.
Yes, subject to minimum lease length requirements and confirmation that ground rent and service charges are up to date. Check current criteria for specific lease requirements.
What our clients say
Shortly after I spoke with Anna, she was also very helpful and made it effortless and a nice experience.
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