The Home FlexiLoan allows borrowers to set up a credit line of between £25,000 and £1m which is secured against their property.
Borrowers can draw down funds in stages and are only charged interest on the amount released. Borrowed funds can be repaid with no early repayment charges.
Whatever loan amount remains outstanding on the fifth anniversary of the agreement is converted into a full-term mortgage.
Paul Day (pictured), director of business development at Clever Lending, said: “We’re privileged to be one of a small number of specialist distributors that brokers can use to access Selina Finance products.
“The ability to use equity within properties is nothing new – but having a pre-approved facility ready to use as and when borrowers wish – with speed – makes complete sense.”
F4B adds Hodge to panel
F4B Network has added Hodge Banks to its lending panel.
Hodge Bank offers residential and buy-to-let deals with a focus on holiday let and buy-to-let portfolio products.
Steve Swyny, commercial director at F4B Network, said: “We are seeing an uplift in buy-to-let business with the holiday-let market rapidly expanding due to the Covid-19 situation and Hodge’s portfolio product is already stimulating interest amongst our advisers as very few lenders offer such a facility.
“This is a panel addition which will help better service an increasingly diverse set of borrowing requirements and we will continue working with lenders who offer value and a real point of difference for our members and their clients.”