"Increasing the LTV for our Status 1 products to 85% provides brokers with more flexibility to help clients secure higher-value loans, even in challenging circumstances."
- Stacey Woods, head of intermediary sales at Selina Finance
Selina Finance has enhanced its homeowner loan range, increasing the maximum LTV for Status 1 products to 85%.
Selina Finance is a UK-based lender specialising in flexible secured credit solutions for homeowners. By leveraging the equity in their property, borrowers can access funding for purposes such as home improvements, debt consolidation, or other financial needs.
Its latest update broadens access for borrowers, particularly those with minor credit issues.
These products are designed to assist borrowers with specific adverse credit histories, such as one missed payment on secured debt, up to two missed payments on unsecured debt within the past 12 months, or one unsatisfied County Court Judgment (CCJ) greater than £500 in the last 24 months.
In addition to the LTV increase, Selina has reduced the product fees for Status 1 products to align with those of Status 0, creating a unified and simplified pricing model.
Loans under £25,000 now have a product fee of £595, loans between £25,001 - £125,000 have a £995 fee, and loans between £125,001 - £500,000 carry a £1,395 fee.
Stacey Woods, head of intermediary sales at Selina Finance, commented: “Our latest updates to the homeowner loan range reflect our commitment to supporting borrowers who may not fit the traditional lending profile. Increasing the LTV for our Status 1 products to 85% provides brokers with more flexibility to help clients secure higher-value loans, even in challenging circumstances.
“With our reduced product fees and streamlined application process, we’re helping brokers deliver more cost-effective solutions for their clients. By lowering the total cost of borrowing — especially for smaller loan sizes under £25,000 — Selina Finance is making it easier for customers to consolidate debts and manage their finances efficiently. We’re committed to offering innovative products that meet the diverse needs of brokers and their clients, without the one-size-fits-all approach.”
