TFC Homeloans has announced the addition of Paragon Personal Finance to its second charge panel.

The new offering from Paragon Personal Finance has a range loan plans with the maximum loan to value ranging from 60% to 85%, rates starting from 5.436%, direct access to underwriters and no lender fee.

Andrew Brown, director of TFC Homeloans, said: “The second charge loan market is becoming rife with competition from new and existing lenders, shaking up the loan sizes and driving down rates to offer a loan which is tailored to suit consumers’ needs. This market which was once considered an expensive option as interest rates were relatively high compared to their first charge counterparts is now opening doors to more flexible criteria teamed with lower rates which in turn offer a fantastic option for consumers who wish to retain their existing first charge rate.

“We’re excited to see the return of Paragon and look forward to working closely with them in the coming months.”

John Webb, head of Paragon Personal Finance, added: “We’re delighted to be entering the market at this exciting period of growth, with a new range of competitively priced loan products, a great new system and a strong service package for brokers. We look forward to working with TCF Homeloans.”