Selina Finance has announced the launch of a new bespoke pricing model for its second charge mortgage products, marking a significant shift away from traditional rate cards in favour of dynamic, customer-specific pricing.

Brokers using Selina’s online portal can now access personalised rates through a newly introduced quick quote feature, which uses real-time data to produce instant indicative pricing.

According to the lender, the update has cut the time taken to generate a quote by 74%, providing earlier clarity on affordability and suitability for both brokers and their clients.

Rates start from 5.94%, but are individually tailored based on a wide set of borrower characteristics, including credit profile, employment type, income, loan to value and geographical location.

Loan sizes range from £10,000 to £500,000, with lending at up to 100% LTV considered.

The firm has confirmed that customer fees will remain unchanged, ranging from £895 on loans under £25,000 to £1,395 for facilities above £125,000.

Chris Hewitson, vice president of credit and data at Selina Finance, said the new model aligns with the lender’s commitment to more accurate and responsible underwriting.

“Pricing for risk is at the heart of responsible lending, but it shouldn’t mean putting borrowers into broad pricing buckets,” he said.

“Our bespoke model enables us to price fairly, quickly, and with the nuances of each case in mind.

“For brokers, it means greater certainty earlier in the process and a product that’s tailored to the customer, not the category.”