Precise Mortgages has refreshed its entire range of residential second charge loan products.

Rates start at just 4.55% and the products are targeted at Prime and Near Prime residential customers.

The range is specifically designed to allow mortgage intermediaries an alternative solution to a remortgage and in many cases a second charge loan is more appropriate.

The continued development of Precise Mortgages’ second charge proposition re-affirms its belief that second charge loans should become a natural consideration for all mortgage intermediaries.

Customers with a less than perfect credit history can now benefit from a competitively priced, near prime range, where rates start as low as 5.55%.

Alan Cleary, managing director of Precise Mortgages, said: “We continue to drive good customer outcomes through product design.

“This latest change sees rates reduced across the entire second charge loan range.  Mortgage Intermediaries trust what we do and know that loans of this type are now a viable option for many customers.”

And he added: “We are delighted to offer the right solution for all customers that may be locked into their existing mortgage as a result of criteria changes or simply because they want to protect their current mortgage rate.”