Selina Finance Boosts Flexibility with New HELOC and High-LTV Five-Year Fix
Specialist second charge lender Selina Finance has unveiled a dual-pronged product launch aimed at enhancing flexibility and accessibility for borrowers and intermediaries. The lender has significantly updated its Home Equity Line of Credit (HELOC) product, introducing flexible drawdown periods of two to five years and a simplified affordability assessment focused solely on the repayment period. Crucially, the HELOC now features no early repayment charges (ERCs), with interest charged only on the drawn balance. Simultaneously, Selina has launched a new five-year fixed-rate second charge mortgage specifically for high loan-to-value (LTV) cases above 85%. This product also carries no ERCs, providing borrowers with long-term rate certainty without the penalty for early settlement. The launch is part of a broader initiative to widen borrower eligibility and streamline the application process for brokers. Company executives emphasized that these changes are a direct response to broker feedback demanding speed, clarity, and flexibility. Matthew Batte, head of intermediaries at Selina Finance, stated the firm's focus has been on 'simplifying how cases move through the process,' citing the removal of a debt-to-income (DTI) calculation as part of the criteria expansion. Henry Vaughan, vice president of growth, added that the HELOC enhancements were designed to make the product more straightforward and user-friendly. These strategic moves position Selina to better serve clients seeking to release equity from their homes, whether through a flexible credit line for ongoing projects or a traditional fixed-term loan for a single large expense. The combination of product innovation and criteria broadening is intended to reduce friction in the second charge market and provide brokers with more versatile solutions for their clients' needs.
Prefer swipe-first reading?
Install the app to keep reading with faster loads and a smoother mobile experience.
Sources
Selina Finance launches enhanced Home Equity Line of Credit product - The Intermediary - Latest UK mortgage news
In addition, the product will feature flexible drawdown periods of two to five years, aligned to customer needs, and fixed credit limits during the flexible drawdown period, with balances that can be drawn, repaid, and redrawn. Affordability will be assessed only on the repayment period, in a bid to simplify case assessments. As with Selina...
Selina Finance expands high-LTV range and broadens borrower criteria | Financial Reporter
Matthew Batte, head of intermediaries at Selina Finance, said: “Brokers are working in a market where speed, clarity and flexibility carry just as much weight as pricing. When cases become complicated or the process slows down, it creates unnecessary friction for both brokers and their clients. “That is why a big focus for us has been simplifying how cases move through the process. Removing our DTI calculation and introducing a five-year fixed product with no ERCs ...
There will also be flexible drawdown ... and fixed credit limits during the period where balances can be drawn, repaid and redrawn. Affordability will be assessed on the repayment period, which the lender said will simplify case assessments. The HELOC deal also has no early repayment charges (ERCs) and interest is charged only on the balance drawn. ... Henry Vaughan, vice president of growth at Selina Finance, said: “We’ve simplified and enhanced our HELOC product to make it ...
We will also send you our free daily email newsletters and other relevant communications, which you can opt out of at any time. Thank you. Submit ... Selina Finance has launched a five-year fixed product with no early-repayment charges (ERC) on its high loan-to-value range above 85% LTV. The specialist lender announced the launch alongside a series of criteria updates designed to widen borrower eligibility. Selina’s latest ...
Fact Checks
Related news
Treasury Deficits and Borrowing Concerns Highlight Massive Shortfall Risks
Concerns regarding massive government deficits persist, with some analyses suggesting the U.S. Treasury may need to borrow an additional $1.45 trillion over the next few years. These warnings stem from internal financial advisory committees and political reporting, highlighting how complex financial engineering has been used to manage large outstanding debts. While one regional report noted a specific country cutting domestic borrowing targets to ease credit risk, the primary focus remains on the scale of anticipated federal shortfalls.
T-Mobile Overhauls Financing Plans, Introducing New 36-Month Options for Phone Upgrades
T-Mobile has announced significant changes to its service structure, introducing new wireless plans built around lower initial costs and extended 36-month device financing options for customers. The move allows consumers to potentially get devices with $0 upfront payments. However, industry observers note that while these plans increase affordability, they also extend the duration of customer commitment, following the removal of previous 'better value' offerings.
Solana's Tokenized Assets Surge as Major Stocks and TradFi Interest Drive Record Volume
Solana's market activity reached new heights last quarter, reporting $5.8 billion in tokenized equity trading volume. This significant growth was largely fueled by major listings, including the record-breaking SpaceX IPO. The platform is attracting both entertainment and institutional capital, highlighted by the launch of a tokenized Take-Two Interactive (GTA 6 publisher) stock. Industry experts suggest that structured products like perpetual futures are key to migrating traditional finance assets onto the blockchain.
Public Sector Workforce Faces Dual Challenge of Talent Shortages and Modernization
Government agencies are undergoing significant technological overhauls, building connected digital systems to improve mission efficiency and productivity across the workforce. However, this modernization effort coincides with deep labor challenges. Workers face reports of 'third world' conditions in some areas, while simultaneously, technical fields struggle with a dire shortage of skilled workers retiring out of the job market.
Zebulon Finance Director Retires Weeks After State Audit Finds Financial Oversight Issues
A state auditor's report detailing serious financial mismanagement prompted the retirement of Zebulon’s finance director. The findings highlighted critical lapses in financial oversight within the eastern Wake County town. The audit specifically noted issues such as duplicate payments and inadequate record-keeping, prompting the auditor's office to call for immediate security improvements. Town officials acknowledged the report's findings, admitting to the seriousness of the documented financial problems.
Lawmakers Cite Senate Report Finding Wall Street Banks Enabled Epstein's Trafficking Operation
Democrats on the Senate Finance Committee released a report concluding that prominent Wall Street institutions enabled Jeffrey Epstein's alleged sex trafficking ring. The findings detail how billions of dollars moved through these major banks over two decades, often involving unexplained cash withdrawals. Amid ongoing investigations and subpoenas in New Mexico, Senator Ron Wyden has claimed that media outlets, specifically CBS, are suppressing crucial information regarding the banks’ dealings with Epstein. These reports suggest a continued effort to obscure the full scope of financial complicity.
Take Yomuyo with you
Download the mobile app for personalized headlines and quick access to breaking stories.