Fluent for Advisers has launched a 90% second charge product with an interest rate of 9%.

Designed with lender 1st Stop Group, the new product has a maximum loan figure of £50,000, with the term from 24 to 300 months.

Director Simon Moore 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, CEO of 1st Stop Group, added: “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.”