Selina Finance has improved its Homeowner Loan range, upping the maximum loan to value (LTV) for Status 1 products to 85%.
This broadens the product’s 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.
- One unsatisfied County Court Judgment (CCJ) greater than £500 in the last 24 months.
By increasing the LTV threshold, Selina Finance empowers brokers to better support clients navigating past financial challenges.
LOWER FEES FOR SMALLER LOAN SIZES
In addition, Selina has reduced the product fees for Status 1 products to align with those of Status 0:
- Requested amount £10,000 – £25,000: £595
- Requested amount £25,001 – £125,000: £995
- Requested amount £125,001 – £500,000: £1,395
Stacey Woods (pictured), head of intermediary sales at Selina Finance, said: “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 £25k—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.”
