Selina Finance ups max LTV for Homeowner Loans

It also reduces fees on its Status 1 products

Selina Finance ups max LTV for Homeowner Loans

Selina Finance has increased the maximum loan-to-value (LTV) ratio for its Status 1 Homeowner Loan products to 85%, providing broader access for borrowers and enhancing flexibility for brokers.

The Status 1 product range is tailored for individuals with specific credit challenges, such as those with one missed payment on secured debt, those with up to two missed payments on unsecured debt in the past 12 months, and those with one unsatisfied county court judgment (CCJ) exceeding £500 within the last 24 months.

This change allows brokers to better support clients with less-than-perfect credit histories, providing them with opportunities to access funding for home improvements, debt consolidation, or other financial needs. 

Alongside the LTV increase, the digital lender has aligned the product fees for its Status 1 range with those of its Status 0 products, introducing a simplified pricing structure. Loans between £10,000 and £25,000 now carry a £595 fee, loans from £25,001 to £125,000 have a £995 fee, and loans between £125,001 and £500,000 require a £1,395 fee.

“Our latest updates to the Homeowner Loan range reflect our commitment to supporting borrowers who may not fit the traditional lending profile,” said Stacey Woods (pictured), head of intermediary sales at Selina Finance. “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 £25,000 — 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.” 

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