
Selina Finance launches high-LTV 5-year fixed with no ERC and widens borrower criteria
The specialist lender has widened its borrower criteria, including removing its DTI calculation to make affordability checks simpler for brokers.

The specialist lender has widened its borrower criteria, including removing its DTI calculation to make affordability checks simpler for brokers.

Selina Finance has introduced no-valuation products by integrating Hometrack automated valuations into its Broker Portal and API, giving brokers instant, free valuations at application stage.

He will work with the sales, operations and marketing teams to build relationships with key networks and help brokers bring Selina’s products to more clients.

The improved HELOC offers a range of new features, including a flat 1.5% procuration fee for brokers, paid upfront with no minimum utilisation requirement, along with clearer clawback terms.

As part of the launch, Selina has transitioned from traditional rate cards to dynamic, client-specific pricing.

This latest enhancement builds on the ‘quick quote’ functionality launched in November last year, which allowed brokers to generate Selina quotes directly within OMS.

Selina Finance said the adjustments provide brokers and clients with more affordable and flexible lending options.

Stacey Woods said: “Our latest updates to the Homeowner Loan range reflect our commitment to supporting borrowers who may not fit the traditional lending profile."

This new functionality allows OMS users to generate second charge quotes from Selina.

As part of the update, Selina Finance reduced the minimum loan size to £10,000 across their entire product range.

Selina Finance will use the latest Phoebus capabilities which have been designed with a contemporary user interface.

The policy allows loans of up to £100,000 to be funded prior to written consent being provided by the first charge mortgage lender.
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