From today, all SimplyBiz Mortgages members will have direct access to Shawbrook Bank’s second charge mortgage range.
The offering includes loans up to 95% LTV, a maximum loan of £1m, all with no early repayment charges on any product chosen.
Martin Reynolds, CEO of SimplyBiz Mortgages, said: “The second charge market is going through a period of change post MCD. We are still working closely with the master brokers on our panel but we are also looking at providing our members with a choice to submit direct if they wish.
“The addition of Shawbrook to our panel provides yet more choice to our members and expands our panel to four lenders. Shawbrook bring with them an excellent product range and an appetite to engage and educate our members which is refreshing.”
Claire Rankin, head of networks and clubs at Shawbrook Bank, added: “Working with SimplyBiz Mortgages is the next step in our second charge mortgage offering, and our first step into the directly authorised space.
“We were impressed with the compliance proposition that SimplyBiz Mortgages offers all its Members, and its ethos of education and training that matches ours.”