Selina Finance reduces second charge rates by up to 1.60%

Selina Finance has reduced pricing across its second charge product range, introducing lower rates across all LTV bands. 

As part of the changes, Selina has reduced rates across its two and five-year fixed-rates and its variable products.

Five-year fixed rates have decreased by 1.55% to 6.34% at 50% LTV and by 1.60% to 6.39% at 65% LTV.

In addition, Selina has reduced rates by up to 1% across its high LTV products including its 87.5% LTV two-year fixed rate product, which now comes with a rate of 9.09%. 

Products with LTVs above 85% are priced dynamically with prices available on application.

Alongside its rate reductions, Selina has also updated the fees for loans between £10,000 and £25,000 to £895.

Stacey Woods, head of intermediary sales at Selina Finance, commented: “At Selina Finance we are committed to providing brokers with highly competitive second charge mortgages, ensuring enhanced affordability and flexibility for borrowers. These rate reductions enhance the value we offer, ensuring brokers can support their clients with attractive second charge options, even in a challenging economic environment. Our goal is to continue empowering brokers with innovative solutions that help them meet their clients’ evolving needs.”