Selina Finance describes itself as 'a new breed of secured lender', providing second charge business and property investment loans.
Rates start from 4.95% with indicative rates available to borrowers within 2 hours of completing the application, and final offers within 24 hours.
In the weeks ahead, borrowers will also be able to go into their personal dashboard to adapt their repayment schedule, e.g. to extend the loan contract or (as the loans are structured as a credit line) make extra withdrawals.
Broker commissions are 3.5% (2% at loan disbursement and 1.5% after 18 months).
Michael Biemann, Managing Director, Selina Finance, commented:
“Brokers are the lifeblood of the secured loans industry, whether for business or property investment reasons, and we look forward to building active partnerships with as many as possible in the weeks and months ahead.
"Our goal as a lender is to introduce a level of flexibility and speed that is unrivalled in the market and that offers brokers a completely fresh mode of finance for their clients. We feel the kind of finance we are offering is a perfect solution to create instant liquidity out of equity, whether for business or property investment reasons.”
