Fluent Money is the first broker distributor to have a decision in principle (DIP) result with some of the Optimum Credit’s lowest ever rates at 2.9%.

Two other recent cases from Fluent have now also met the criteria to receive a rate below 3%.

Optimum Credit assesses customer applications via its own ‘rate for risk’ model. Optimum’s dynamic pricing engine will now return rates under 3%.

The cases in question were £89,000 for a loft conversion, extension and new kitchen; £40,500 for consolidation and £45,000 for consolidation.

Tim Wheeldon (pictured), Fluent Money’s COO,  said: “These cases demonstrate that second charge lending can sometimes attract rates as low as first charge mortgages. Although, because of the added risk of sitting behind a first charge, rates like this are not going to be plentiful, it will hopefully surprise many brokers, who may still think that second charge automatically means expensive lending.

“Fluent’s team has worked closely with Optimum since they came to the market and our understanding of their process meant that we know the type of cases that will attract the best rates for our customers.”

Craig Collins, wholesale director at Optimum Credit, added: “We are delighted to have seen our first sub 3% application since our product overhaul. The benefit of placing enquiries with Fluent is that they will always seek a price with Optimum, and as such are in a great position to ensure the customer has the potential to take advantage of our excellent rates.”