Selina Finance launches high-LTV five-year fixed with no ERC and broadens borrower criteria
17 March 2026
Selina Finance, a Certified B Corp™ and specialist lender offering Home Equity Lines of Credit (HELOCs) and secured homeowner loans, has launched a five-year fixed product with no early-repayment charges (ERC) on its high loan-to-value (LTV) range above 85% LTV, alongside a series of criteria updates designed to widen borrower eligibility.
The product is intended to allow borrowers to secure rate certainty while maintaining the flexibility often required when raising capital through a second charge loan.
Selina has also removed its debt-to-income (DTI) calculation, which is expected to simplify affordability assessments and help brokers place more cases successfully.
Further enhancements have been made to Selina’s Hometrack eligibility matrix, following the recent introduction of automated valuations. The revised criteria are designed to increase the number of cases qualifying for a no-valuation assessment, helping brokers move cases through the application journey more efficiently.
The lender has also increased its maximum borrower age to 80, with earned income now considered up to age 75. Previously, the maximum age for earned income was 70, while borrowers aged up to 75 were only considered where income was derived from pension or rental sources.
Selina has also reduced its minimum loan amount to £5,000 across all products, down from the previous minimum of £10,000, a change developed to enable brokers to support a wider range of smaller borrowing requirements.
Several additional policy enhancements have also been introduced, including:
- Minimum self-employed age reduced to 21.
- Maximum loan amount increased to £300,000 for products between 75% and 85% LTV.
- Maximum loan amount increased to £500,000 for the standard Home Equity Loan up to 75% LTV.
- Stress-test reduced to support improved affordability outcomes.
- Exceptions now considered on higher-LTV products.
Selina has also expanded the types of property it will consider, removing restrictions for:
- Grade II-listed properties.
- New-build properties.
- Timber-framed homes.
- Flats above commercial premises.
- Scottish freehold flats.
- Self-build properties.
Income assessment criteria have also been updated to simplify evidence requirements across a range of employment types, including self-employed borrowers, partnership income, overtime, commission, and zero-hour contracts.
Selina Finance is a specialist second-charge lender offering flexible credit facilities that allow homeowners to access funds while retaining their existing mortgage arrangements. Through its intermediary proposition, the lender provides Home Equity Lines of Credit (HELOCs) and secured homeowner loans designed to give borrowers greater control over accessing capital, while supporting brokers with flexible criteria and technology-led underwriting.
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 on higher loan-to-value (LTV) lending gives brokers more room to structure solutions that work for their clients, while still providing the certainty many borrowers are looking for.
“At the same time, expanding our Hometrack eligibility and increasing the availability of no-valuation products is another step towards making the journey faster and more predictable. Where cases meet the criteria, instant valuations remove delays and give brokers greater clarity much earlier in the application process.”
Calum Sayer, Specialist Mortgage Advisor at Truffle Specialist Finance, added
“The update to Selina’s DTI calculation has already made a meaningful difference to the cases we can place. In one recent example, we have clients looking to raise £145,646 for debt consolidation, which would reduce their monthly outgoings by £3,445.67. Under the previous criteria, the case failed the affordability assessment, but following the update we are now able to proceed, which will make a significant difference to the clients’ financial position.
“More broadly, Selina’s latest criteria enhancements represent a real step forward for both brokers and borrowers. Stronger affordability, wider property and income acceptance, and greater flexibility – including the five-year fixed option with no ERCs and the increased maximum borrower age – mean we can support more customers and progress more cases.”
Brokers can find further information about Selina Finance and its lending proposition by visiting https://www.selinafinance.co.uk/.
For intermediary use only. Your customer’s home may be repossessed if they do not keep up with repayments.
