Selina Finance has enhanced its Homeowner Loan range, increasing the maximum loan-to-value (LTV) for Status 1 products to 85% from today (27th January).
This update aims to broaden access for borrowers, particularly those with minor credit issues, and provide brokers with greater flexibility to meet client needs.
These products allow for 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; and one unsatisfied County Court Judgment (CCJ) greater than £500 in the last 24 months.
In addition to the LTV increase, Selina reduced the product fees for Status 1 products to align with those of Status 0, creating a unified and simplified pricing model.
For a requested amount of £10,000 to £25,000, the fee is £595, for £25,001 to £125,000, fees are £995, and for £125,001 to £500,000, the fee is £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.”
