Selina Finance unveils 85% LTV second charges

Published on

Selina Finance is increasing its maximum loan to value (LTV) to 85%.

Two-year, five-year and variable rate products at 85% LTV are now available, all with a rate of 6.3%. The maximum loan or credit facility size is £500,000, in line with all Selina’s products above 75% LTV.

The new products have no early repayment charges (ERCs).

The 85% product can be secured on a main residence or second home, and Hometrack AVM with confidence of 6 or more is accepted on properties valued up to £500k.

Selina Finance provides flexible second charge mortgages that can be used as a standard term loan or a credit facility – or ‘home equity line of credit’ (HELOC) – with a flexible period of up to five years during which borrowers can draw and repay funds whenever they choose.

Stacey Woods, key account manager at Selina Finance, said: “We’re excited to be adding to our product range as 2021 draws to a close. There’s been a lot of demand from our intermediary partners for an 85% product, so we’re delighted to be able to offer this before the festive season kicks off.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...