Cheshire Mortgage Corporation, now Together Finance

Samsung_Note2

What a great success story...so Together charged more interest (been there with Northern Rock in 2006) but allowed you the chance you needed.

Sounds like a win win all round and worth it in the end.

IvyJay

I've just found this thread and wanted to add my experience of Together.

I wanted a mortgage for a non-standard construction and Together was the only offer I received so accepted - I had never heard of them before. The interest rate is just under 7% but was very affordable because the loan amount was around £25,000. My only issue was that they were slow so it took approx. 5 months even though there was no chain involved. They also left it until the last minute to request additional personal information that they could've asked for months earlier. However, since the completion of the purchase things have been fine. I wouldn't want to apply to them again for another mortgage but would if I really had no other choice.

Timetomove

Hi

I have a DIP with together and my application is being processed.
Today they asked for another copy of my direct debit mandate and bank statements via my broker.

Being new to this, I’m apprehensive for the outcome .

Does this sound positive/ normal procedure ?

Essex_investor

I bought land at auction and needed a bridging loan because my finances were in poor shape, however I'm due a lump sum in August which will cover it easily.

Together agreed to lend £30,000 to me. However on the completion date after keeping me waiting for 4 days they decided to withdraw the offer. The reason was they made a security call to me on the completion day and doubted that I didn't intend to live in the security property for the loan. This they said would be against FCA rules. But I said I wasn't living there, but I asked can I stay there overnight (e.g. to oversee necessary work there). They said no. (incidentally their request invalidates my home insurance policy which Together asked to be anotated with their interest, because the property should not be unoccupied for more than 60 days)

Together told me that they only do unregulated loans and these are outside the remit of the FCA as they say. The FCA advised me to speak to the Citizen's Advice Bureau about the issue. Together also told me that the Financial Ombudsman would not deal with any complaint for unregulated loans.

Together's agreement document that I signed at the solicitor's is clever because it avoids being a contract by the inclusion of the words 'Together may lend' but when they lend it becomes a contract that is binding on the lender.

I have complained to them but know that they intend to reject my complaint.

I found Together's administrative processes slow and overly complex. In fact they seemed to delight in keeping me waiting to the final day.

My solicitor was also very poor. She did not warn me this was an unregulated loan and could be withdrawn at any time. She also wants to charge me for that loan because she says she had done most of the work for it.

Whoever says there are no cowboys in the industry is really misinformed, I think

GlitterWitch

Glad I found this post. We’ve just had an AIP from Together for a shared ownship property and we have posted off the mortgage application to our brokers. I realise this is a last ditch attempt for us to get on the property ladder with a poor credit background, but I’m, at least, hopeful that we might get the mortgage.
Anyone been in the same position where they really don’t think they’ll get the mortgage with Together, but do?
Thanks.

GlitterWitch

Timetomove wrote: »

Hi

I have a DIP with together and my application is being processed.
Today they asked for another copy of my direct debit mandate and bank statements via my broker.

Being new to this, I’m apprehensive for the outcome .

Does this sound positive/ normal procedure ?

How did You get on?

babybec

I had a 50k bridging loan with this company. My business went into liquidation in Nov 17 and I put my house on the market immeadiately. I was ill with anxiety and depression and unable to work, I sent a financial statement to Together informing them that I could not make monthly payments. And a doctors letter to let them know I was poorly. They knew I had enough equity in the property to cover these payments on sale, but they still persisted and threatened me with repossession.
My main mortgage was with Santander who have not put any pressure on me whatsoever as long as I kept them up to date with the sale progress.
Together had permission to speak to estate agents and solicitors to monitor the sale. Despite the sale being agreed they sent a court date for repossession.
Now my sale is about to complete they have added nearly £2k solicitors fees, £2500 renewal fees, and exit fees of £800. I will be taking this company to court and going to the press also. I dont want anyone else to go through this.

SophieMx

Hi how did you get on taking them to court? I feel so sorry for my mum she took out a bridging loan with this companie who have changed names 3 times since she has payed well over what she borrowed now she is a contact working in IT was out of work for a short amount of times where a couple of times she misse payments the fees were massive the top tried to take her to court for repossion never won! But she has all her money and every thing she has worked for Tyed up in land she owns with stables is so depressed as all she wants todo is sell
Up but what they are asking for if she sells is loads and leaves her with nothing she don’t have loads money to pay a barrister to help her and know not a huge amount about these unregulated loans (bridging loan) she took out
I want to help her but again know very little
Would be nice to hear if any one has had similar issues with them ana maybe delt with it some how
Thanks

Samsung_Note2

Hmm two negative posts slating a company for wanting its money back when payments were missed...well what an awful company they must be.

I mean seriously..they dare ask for the loan to be repaid,shocking....:eek: