Together Business Loans: Review and Alternatives

Together is a Cheadle-based specialist lender that provides secured loans to businesses, property investors and individuals, using property as collateral. It tends to suit borrowers who need flexible, asset-backed finance and who may not fit the tick-box criteria of a high street bank, for example those with complex income, adverse credit history or unusual security.

This review explains how Together works, what it looks for, how its pricing tends to be structured, and how it compares to other specialist lenders. Greenwood Capital is a whole-of-market broker, so the aim here is to give you accurate, impartial information rather than a recommendation.

Together at a glance

Together is a privately owned lender founded in 1974 that focuses on secured lending against residential, semi-commercial and commercial property. It is known for taking a common-sense, case-by-case view rather than relying purely on automated credit scoring.

How does Together work and what products do they offer?

Together lends against property security and offers a range of products across regulated and unregulated lending. For business borrowers, the most relevant lines are commercial mortgages, second-charge loans, bridging finance and buy-to-let or portfolio lending.

A secured business loan means the lender takes a legal charge over a property you or your business owns. If the loan is not repaid, the lender can ultimately recover its money from that asset, which is why secured lending can unlock larger sums and longer terms than unsecured borrowing.

Commercial and semi-commercial mortgages

These are longer-term loans secured against commercial premises such as offices, shops, warehouses or mixed-use buildings. They are commonly used to buy premises, refinance existing borrowing or release equity for growth.

Second-charge business loans

A second charge sits behind an existing mortgage on a property, letting you borrow against equity without disturbing a good rate on the first charge. Together is one of the more established names in second-charge lending, which is useful when refinancing the whole first mortgage would be costly.

Bridging finance

Bridging is short-term, interest-focused lending used to move quickly, for example to buy at auction, break a property chain or fund a refurbishment before refinancing. Terms are usually months rather than years, with a clear exit plan required.

Buy-to-let and portfolio lending

Together also lends to landlords, including limited company structures, portfolio landlords and more complex properties such as HMOs, that mainstream lenders sometimes decline.

What are the eligibility requirements for Together?

Together assesses each case individually and places heavy weight on the quality of the security and a credible repayment plan, rather than on credit score alone. This makes it more accessible than many banks for borrowers with an imperfect history.

In practice, Together tends to look at the following.

• The security property. Type, condition, value and location all matter. Non-standard construction and mixed-use buildings are often considered.
• Loan to value (LTV). How much you want to borrow against the property value. Lower LTV usually means more options and better pricing.
• Exit or repayment strategy. For bridging especially, the lender wants a realistic plan to repay, such as a sale or refinance.
• Affordability. For longer-term loans, evidence that the business can service repayments.
• Credit history. Adverse credit is not an automatic decline; it is weighed against the wider picture and may affect pricing.

There is no substitute for confirming current criteria directly, because lending appetite and product rules change. A broker can sense-check whether your situation is likely to fit before you apply.

How much does Together cost?

Together does not publish a single headline rate, because pricing is set case by case according to risk. As a general rule, expect specialist secured lending to be priced above high street rates, reflecting the flexibility, speed and willingness to take on complex cases.

Pricing on this kind of lending tends to be built from several components.

• Interest rate. Often driven by LTV, property type, loan purpose and credit profile. Lower risk generally means a lower rate.
• Arrangement or facility fee. Commonly a percentage of the loan, sometimes added to the balance.
• Valuation fees. To assess the security property.
• Legal costs. You may cover both your own and the lender’s legal fees.
• Bridging interest structure. Short-term loans may charge interest monthly, or roll it up to be paid at the end.

Because the numbers depend so heavily on your profile and security, rates and fees vary widely, so always confirm current terms and the full cost of borrowing with the lender or through a broker before committing. Look at the total cost over the life of the loan, not just the monthly figure.

The Together application process step by step

The typical journey for a secured business loan with a specialist lender like Together follows a clear sequence, whether you apply direct or through a broker.

• 1. Enquiry and indicative terms. You share the loan purpose, amount, property details and your circumstances, and receive an initial indication.
• 2. Decision in principle. The lender reviews the outline case and issues a provisional agreement subject to underwriting.
• 3. Full application and documents. You submit supporting paperwork and formal details.
• 4. Valuation. A surveyor assesses the security property.
• 5. Underwriting. An underwriter reviews affordability, the exit plan and any credit issues.
• 6. Formal offer. The lender issues terms setting out rate, fees and conditions.
• 7. Legal work and completion. Solicitors handle the charge and drawdown of funds.

How fast is Together and what should you have ready?

Timescales depend on the product and complexity, but bridging cases can complete in a matter of weeks and sometimes faster when everything is in order, while commercial mortgages usually take longer because of valuation and legal work. Speed is often lost to missing paperwork rather than to the lender.

To keep things moving, have the following ready.

• Proof of identity and address for all parties
• Details of the security property, including title and any existing mortgage
• Recent business accounts or management figures, and bank statements
• A clear statement of the loan purpose and, for bridging, a documented exit plan
• Details of any existing credit or adverse history, explained up front

A worked example

Consider a trading company that owns its premises worth £600,000 with an existing mortgage of £250,000. The directors want to raise £120,000 to buy new equipment and take on a large contract, but do not want to disturb the competitive rate on their current mortgage.

A second-charge business loan lets them borrow against the equity while leaving the first charge untouched. The lender assesses the property, confirms affordability from the contract and trading figures, and lends against the combined loan to value. This is a scenario where a specialist like Together can be well suited, because the flexibility and willingness to sit behind an existing charge matter more than a headline rate. The company should still compare this against a full refinance to check which is cheaper overall.

Together pros and cons

Pros

• Genuine flexibility on complex cases, adverse credit and non-standard property
• Manual, common-sense underwriting rather than pure credit scoring
• Broad product range covering bridging, second charge, commercial and buy-to-let
• Long track record as an established specialist lender
• Can move quickly on time-sensitive deals such as auction purchases

Cons

• Pricing tends to be higher than high street lending, reflecting the risk taken on
• Secured against property, so your asset is at risk if you cannot repay
• Fees and legal costs can add up, so the total cost needs careful checking
• Not the cheapest route for straightforward, strong-profile borrowers

How does Together compare to the wider market?

Together is one of several specialist secured lenders, and the right choice depends on your property, profile and purpose. Here is a fair view of how it sits against three other well-known names.

Shawbrook

Shawbrook is a specialist bank active in commercial mortgages, bridging and buy-to-let, including complex and portfolio landlord cases. It often appeals to more established borrowers and larger property deals, with a strong reputation in professional landlord lending. Where your case is a substantial buy-to-let or portfolio refinance, Shawbrook is well worth comparing against Together.

OakNorth

OakNorth is a bank that focuses on larger, bespoke loans to established, profitable businesses, often in the hundreds of thousands to several million range. Its underwriting is relationship-led and tailored, which suits growth, acquisition and property development deals of scale. For smaller, credit-impaired or fast bridging cases, Together is usually the more natural fit, whereas OakNorth is stronger for sizeable, well-evidenced business lending.

High street banks

Mainstream banks typically offer the lowest rates for straightforward, strong-profile borrowers with standard property and clean credit. The trade-off is stricter criteria, slower decisions and less appetite for anything unusual. If you fit their box, a bank may be cheaper; if you do not, a specialist like Together exists precisely to fill that gap.

Where Together is genuinely the better choice

Together tends to win when speed, flexibility and a willingness to look past a blemished credit file or an unusual property matter more than securing the absolute lowest rate. Second-charge lending, bridging and non-standard security are areas where it is consistently competitive.

Who is Together best for, and who should look elsewhere?

Together is best for borrowers who need asset-backed finance with flexibility, including those with complex income, adverse credit, time-critical purchases or non-standard property. It is also a strong option for second-charge borrowing where preserving an existing first mortgage matters.

You should probably look elsewhere if you have a clean, straightforward profile and standard security, because a high street bank may offer a lower rate, or if you need a large, bespoke facility for an established business, where a lender like OakNorth may be a better fit. Comparing the market is the only reliable way to know.

Compare the market with Greenwood Capital

Every lender has a sweet spot, and Together is no exception. As a whole-of-market broker based in Manchester, Greenwood Capital can compare Together against other specialist and mainstream lenders and match the options to your situation, so you can see where you fit before you apply.

If you would like general help understanding your choices for a secured business loan, get in touch and we will do the legwork of comparing the market for you.