Selina Finance has reduced pricing across its second charge product range, introducing lower rates across all LTV bands.

As part of the changes, Selina has reduced rates across its two and five-year fixed rates and variable products.

Example rates include:

• Five-year fixed rate, available up to 50% LTV, now with a rate of 6.34% – a 155 basis point (bps) reduction.

• Five-year fixed-rate, available up to 65% LTV, now with a rate of 6.39% – a 160bps reduction.

Alongside its rate reductions, Selina has also updated the fees for loans between £10k and £25k to £895.

Selina has also reduced rates by up to 1% across its high LTV products including its 87.5% LTV, two-year fixed-rate product, which now comes with a rate of 9.09%.

Stacey Woods, head of intermediary sales at Selina Finance, said: “At Selina Finance we are committed to providing brokers with highly competitive second-charge mortgages, ensuring enhanced affordability and flexibility for borrowers.

“These rate reductions enhance the value we offer, ensuring brokers can support their clients with attractive second-charge options, even in a challenging economic environment.

“Our goal is to continue empowering brokers with innovative solutions that help them meet their clients’ evolving needs.”