" This latest offering should provide a quicker and more flexible alternative to remortgaging"
TMA Club is adding second charge products to its range through Precise Mortgages, meaning members can now submit cases directly to Precise as an alternative to going via a master broker.
Precise's second charge products are available up to 85% LTV as a two-year tracker or a two-year or five-year fixed rate term. Product rates start from 4.20% and have been designed specifically for customers looking to raise capital by releasing equity from their existing residential property.
The second charge products will complement the existing Precise Mortgages range available to TMA members, which includes residential, buy-to-let and bridging loan products.
Rob McCoy, senior product and business manager at TMA, said: “We are delighted to announce that our continued relationship with Precise Mortgages will see our members gain access to some of our most competitive second charge products available. We understand our members want access to flexible mortgage options and this latest offering should provide a quicker and more flexible alternative to remortgaging, which could be ideal for customers who want to protect their existing mortgage and enjoy a continuation of low mortgage rates.
“We are confident the expansion of our Precise Mortgages offering will be popular amongst our members, particularly for those clients where remortgaging is not a viable option.”
Alan Cleary, managing director at Precise Mortgages, added: “Second charge loans play a pivotal role in allowing customers more choice when it comes to meeting their borrowing needs. We look forward to working with TMA to help embed direct access to our range of second charge loans and further strengthen their specialist lending proposition.”