"Second charge has soared in popularity in recent years, thanks in no small part to the innovative approach to criteria and product design of the lenders in the field."
Shawbrook Bank and Paragon Bank are the latest lenders to join the Personal Touch second charge panel.
Shawbrook's second charge mortgage range features loans up to 95% LTV, a maximum loan of £1m, and no ERCs, while Paragon offers loans up to £500,000 at 85% LTV.
Dave Edwards, commercial director at Personal Touch, said: “Second charge has soared in popularity in recent years, thanks in no small part to the innovative approach to criteria and product design of the lenders in the field. Shawbrook and Paragon are among those lenders who are driving the seconds market forward and I am delighted to welcome them to our panel.
“Consumers are starting to catch on to the multitude of benefits and uses offered by second charge products and at Personal Touch we want to be able to give our brokers access to the best providers in the market so that their customers can reap these benefits too.”
Claire Rankin, head of networks – residential mortgages at Shawbrook Bank, added: “I am thrilled that Shawbrook are launching onto the Personal Touch panel today as this means that even more customers will be able to experience our multi award-winning service and product proposition. Shawbrook and Personal Touch are completely aligned in our approach to delivering the very best in quality customer service, so this partnering can only offer great news for customers moving forward”.
John Webb, second charge mortgages director at Paragon, commented: “We’re excited to be working with Personal Touch and enabling direct access to our specialist second mortgage products, which continue to be a viable alternative to remortgaging and further advances in the advisers’ toolbox.”