Together Finance, with a branch located in Barnstaple, North Devon, plays a significant role in the local financial landscape. They specialize in providing secured lending solutions, targeting individuals and businesses often underserved by mainstream banks. This includes those with complex financial situations, such as impaired credit histories, non-standard income streams, or unique property needs.
The Barnstaple branch offers a personalized, face-to-face service, which is a key differentiator for Together Finance. In a world increasingly dominated by online applications and automated systems, the presence of a local office provides clients with the opportunity to discuss their individual circumstances directly with experienced lending professionals. This can be particularly beneficial for those seeking larger or more complex loans where nuanced understanding and tailored solutions are essential.
The type of finance available through Together in Barnstaple encompasses a range of secured loan products. These might include bridging loans, designed for short-term funding needs such as purchasing property at auction or covering a temporary cash flow gap. They also provide commercial mortgages for businesses looking to purchase or refinance commercial properties, as well as development finance to support property development projects in the region.
A significant aspect of Together’s offering is their focus on understanding the underlying asset securing the loan. This means they are often more willing to lend against properties that might be considered non-standard by traditional lenders. For example, they may consider lending against properties with unusual construction, agricultural land, or those requiring significant renovation. Their expertise in asset-backed lending allows them to provide funding where others may not.
The impact of Together Finance’s presence in Barnstaple extends beyond just providing financial products. By supporting local businesses and individuals with their lending solutions, they contribute to the overall economic growth and prosperity of the region. The availability of development finance, for example, can fuel construction projects, creating jobs and stimulating local supply chains. Similarly, commercial mortgages can empower local businesses to expand and invest in their operations.
However, it’s important to note that secured lending carries inherent risks. Borrowers must understand the terms and conditions of their loan agreements and ensure they can comfortably meet their repayment obligations. Failure to do so could result in the loss of the asset used as security. Consequently, responsible borrowing and a thorough understanding of the associated risks are crucial.
In conclusion, Together Finance in Barnstaple fills a vital niche in the local financial market by providing secured lending solutions tailored to the needs of individuals and businesses with complex circumstances. Their commitment to personalized service and asset-backed lending contributes to the economic vitality of the region, although borrowers must always exercise caution and ensure they understand the associated risks before taking out a loan.