Buy to Let Club has teamed up with Precise Mortgages to offer its members an exclusive range of buy-to-let second charge products that come with zero product fee and are fixed for five years.

Rates start at 4.49% for LTVs of up to 60% with a maximum loan size of £200,000. All products in the range are stressed at pay rate and offer the option to include landlords’ earned income in affordability assessments.

“As a business we are seeing a rise in the number of brokers enquiring about second charge loans,” says Buy to Let Club’s managing director Ying Tan.

“This should come as no surprise, perhaps, as brokers seek more flexible borrowing options for their clients within the current lending climate.

“The benefits of second charge loans are certainly becoming more widely appreciated. Enabling clients to retain existing mortgage rates makes them an attractive proposition for many, but the fact that they can be used to capital raise for many non-traditional purposes often comes as a surprise to brokers.

“In today’s market, an awareness of the opportunities presented by second charge loans should be part of a broker’s arsenal in order to provide the best possible advice to their clients. We are certainly expecting these market-leading new products from Precise Mortgages to generate a lot of interest from our Club members.”

Alan Cleary, managing director of Precise Mortgages, added: “These products are designed to give mortgage brokers more flexibility when dealing with their clients’ financial needs. The pricing of the products is very keen and I expect them to be very popular.”