Tenet has launched a direct to lender second charge panel.

The panel will initially comprise of five lenders: Masthaven Secured Loans; Precise Mortgages; Paragon Personal Finance; Shawbrook Bank and Step One Finance.

Advisers will have the option to go direct to the lenders on panel. To facilitate sourcing for the direct panel, Tenet has worked with existing partner, Mortgage Brain, to develop TenetLoansBrain, a bespoke version of the LoansBrain secured loans sourcing website. This will be available to members free of charge.

Gemma Harle, TenetLime’s managing director, said: “We hope that the launch of our direct to lender second charge panel will bring some real competition into the second charge market, making second charge a more cost effective option for our advisers to consider when their customer is considering a remortgage with capital raising or a further advance.”