Fluent for Advisers has unveiled a 90% loan-to-value second charge product with interest rates starting from 9.00%.
The second charge distributor is offering the product through provider 1st Stop with a maximum loan of £50,000 and terms from 24 to 300 months.
Simon Moore, director of Fluent for Advisers, said: “I have been working on this product for over nine months with 1st Stop.
“There are higher LTV products in the market already, but the increase in interest rates being charged between 85% and 90% for the same clients was significant.
“I am delighted that between 1st Stop and Fluent we have produced a product which allows borrowers to go up to 90% LTV without having to pay a king’s ransom for the privilege.”
Alex Mollart, chief executive of 1st Stop Group, said: “We are delighted to be offering this exclusive product through Fluent.
“Between Simon and ourselves, we have worked extremely hard to bring this project to fruition, so it seemed only right that we should offer it through Fluent.
“We have worked with them closely in the past and the professionalism they have shown in the way they prepare cases and treat customers and introducers is an object lesson in how business should be conducted.”