TMA Club will be providing its members with access to a range of additional second charge products through its latest partnership with Paragon.
Club members can now offer homeowners in England, Wales and mainland Scotland second charge loans of any amount between £20,000 and £500,000, with repayment terms of 60 to 360 months.
The arrangement providers direct contact with Paragon’s underwriters so advisers can discuss their case with someone who has the knowledge to help them
Paragon is already on the TMA lender panel, providing advisers access to its range of buy-to-let products.
Rob McCoy, senior product & business manager at TMA, said: “As customer lending needs continue to become more varied, is important that we can offer our members access to a range of loan types. Welcoming Paragon’s second charge products to our lender panel is testament to ensuring our advisers have access to the upmost tools and products to provide the best possible outcomes.
“Often advisers are unaware of the multitude of uses of second charge loans so partnerships like this allow us to emphasise the key part seconds have to play in catering for a diverse array of client’s needs. We look forward to strengthening our relationship with Paragon further.”
John Webb, second charge mortgages director at Paragon, added: “Seconds have evolved to become a viable option for large groups of borrowers and are more affordable and flexible than ever before. We are therefore thrilled to be expanding our offering through TMA to provide more advisers with the access to our product suite and to support TMA’s mission to provide the best level of support available to members of its club.”