Together has introduced new fixed-term products to its second charge mortgages and is offering its lowest ever rate on some secured loans.

The lender has introduced cuts to its second charge Prime Plus range, with rates for residential borrowers starting at 5.19% at a maximum 65% loan-to-value (LTV).

Together introducing new maximum borrowing limits as well as adding new two and-five year fixed rate second charge mortgage products on its Prime Plus plans, for near prime borrowers, following feedback from brokers.

Richard Tugwell (pictured), intermediary relationship director at Together, said: “We’re delighted to be able to offer our brokers’ clients larger second charge mortgages, some at our lowest ever rates and believe this shake-up of our Prime Plus range will make us even more competitive in the market.

“We’re constantly working with our partners to launch new products and improve those we already have and many brokers we’ve worked with had said that the new fixed-rate second charge products would be a great addition to our second charge range.”

He added: “Although a second charge isn’t always the right solution, in some cases it can be, so brokers should be looking at this type of lending as a viable option to remortgaging when advising their clients.”

Together’s new two year fixed products will start at 5.89% and five year fixed at 6.39%.

Meanwhile, the lender is doubling its maximum Prime Plus second charge loan sizes to £150,000 at 77.5% LTV and to £200,000 at 75% LTV.