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Selina Finance launches 85 per cent LTV second charge range
Secured loan provider Selina Finance has increased its maximum second charge loan-to-value (LTV) to 85 per cent.
Two-year, five-year and variable rate products at 85 per cent LTV are now available, all with a rate of 6.3 per cent. The maximum loan or credit facility size is £500,000, in line with all Selina’s products above 75 per cent LTV.
The 85 per cent product can be secured on a main residence or second homes, and a Hometrack AVM is accepted on properties valued up to £500k.
Stacey Woods (pictured) key account manager, said: “We’re excited to be adding to our product range as 2021 draws to a close.
“There’s been a lot of demand from our intermediary partners for an 85 per cent product, so we’re delighted to be able to offer this before the festive season kicks off.”
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The new products have no early repayment charges (ERCs). Selina Finance provides flexible second charge mortgages that can be used as a standard term loan or a credit facility.