TMA Club is expanding its offering by adding second charge products to its range through Precise Mortgages.

Members can now choose to submit cases directly to Precise Mortgages as an alternative to going via a master broker.

The Precise Mortgages second charge products offer up to 85% LTV and are available as a two-year tracker, or alternatively as a two-year or five-year fixed rate term. Product rates start from 4.20% and have been designed specifically for customers looking to raise capital by releasing equity from their existing residential property.

TMA currently offers a range of residential, buy-to-let and bridging loan products from Precise Mortgages. The second charge product will complement the existing Precise Mortgages range available to TMA members.

Rob McCoy, senior product and business manager at TMA, said: “We are delighted to announce that our continued relationship with Precise Mortgages will see our members gain access to some of our most competitive second charge products available.

“We understand our members want access to flexible mortgage options and this latest offering should provide a quicker and more flexible alternative to remortgaging, which could be ideal for customers who want to protect their existing mortgage and enjoy a continuation of low mortgage rates.

“We are confident the expansion of our Precise Mortgages offering will be popular amongst our members, particularly for those clients where remortgaging is not a viable option.” 

Alan Cleary, managing director at Precise Mortgages, added: “Second charge loans play a pivotal role in allowing customers more choice when it comes to meeting their borrowing needs.

“We look forward to working with TMA to help embed direct access to our range of second charge loans and further strengthen their specialist lending proposition.”