[FULL HUMAN VERIFICATION REQUIRED BEFORE PUBLICATION]
All product details, rates, LTC/GDV limits, and eligibility criteria for both lenders must be verified against each lender’s current documentation before publication.
Together and Close Brothers both operate in the specialist UK development finance market, but they approach it differently. Close Brothers is a traditional specialist bank; Together occupies a broader property lending position with a reputation for flexibility on complex cases. Comparing the two is useful when a scheme could be funded by either but the developer wants to understand which is likely to offer better terms or a better fit for the specific transaction.
Close Brothers: Specialist Bank Model
Close Brothers is an established merchant bank with a long history in specialist property lending. Its development finance operation is part of a broader commercial property lending business that includes bridging and commercial mortgages.
Key characteristics [VERIFY]:
– Regulated bank with stable funding
– Structured credit process
– Multi-product property lender
– Typically requires established developer track record
– Competitive pricing for bank-quality credit
Together: Flexible Specialist Lender
Together is a large non-bank specialist lender (though it has some bank-like characteristics through its funding structure). It spans bridging, development finance, buy-to-let, and commercial mortgages, and is known for taking a more flexible approach to credit underwriting â particularly on cases where other lenders may hesitate.
Key characteristics [VERIFY]:
– More willing to consider non-standard cases
– Broader scheme type coverage
– Less experienced developers may find Together more accessible
– Pricing may be higher than bank competitors for equivalent credit quality cases
When to Consider Each
Close Brothers may be better if:
– The developer has a strong track record and a clear scheme
– The priority is competitive pricing on a standard ground-up or refurbishment transaction
– The developer values a relationship with an established bank lender
Together may be better if:
– The scheme has non-standard characteristics
– The developer is less experienced and has difficulty placing the deal elsewhere
– Speed or flexibility is a priority over rate minimisation
The Broker’s Role
As with most specialist property lending comparisons, the practical answer is to use a development finance broker who has relationships with both lenders and can identify which is currently most competitive for the specific scheme. Lender appetite and pricing change â the best match for a transaction last year may not be the best match today. [EDITORIAL JUDGEMENT]
Related Pages
- Together Development Finance Review
- Close Brothers Development Finance Review
- Best Development Finance Lenders UK
- Ground-Up Development Finance