Shawbrook Bank has increased the maximum loan size for a number of its second charge loans.

The changes concern products in the 75 per cent LTV and 85 per cent LTV bands.

For 75 per cent LTV products, the maximum loan size has risen from £200,000 to £500,000 and for 85 per cent LTV products, from £100,000 to £150,000.

Shawbrook property finance head of sales Gavin Seaholme says: “This is just another step in our ongoing product innovation plans for 2021.

“We are committed to supporting the second charge market and want to give our brokers a wider choice when it comes to assisting clients with larger funding requirements.”

At the start of this year, Knowledge Bank showed that the second charge market had seen the biggest shake up in search terms across the whole mortgage industry in December.