Commercial Finance
Selina Finance ups homeowner loan and home equity line of credit prices
Specialist lender Selina Finance has increased the rates for its homeowner loans and home equity line of credit (HELOC) ranges due to swap rate rises.
In a note to brokers, the lender said that due to the “sustained increase in swap rates” it will be increasing its rates across all its fixed rate products.
For homeowner loans, variable rates start at the base rate plus 3.75 per cent, whilst its two-year fixed rate with early repayment charge (ERC) begins at 9.7 per cent and without ERCs are priced from 9.9 per cent.
Five-year fixed rates with ERCs begin from 8.85 per cent and without ERCs are priced from 10.05 per cent.
In the lender’s HELOC range, variable deals are priced at the base rate plus 4.2 per cent.
