Lender Comparison
Selina Finance vs Pepper Money Secured Loans
Selina and Pepper are the two most-quoted prime market secured loan lenders on our panel. They overlap heavily on clean credit residential cases up to £500,000 — but their pricing curves and credit appetite diverge in ways that matter to borrowers picking between them.
At a glance
| Selina Finance | Pepper Money Secured Loans | |
|---|---|---|
| Min loan | £10,000 (homeowner loan) / £5,000 (HELOC) | £5,000 |
| Max loan | £500,000 | £500,000 |
| Max term | 30 years | 30 years |
| Max LTV | 85% combined (across first charge plus any other secured borrowing) | 85% combined |
| Credit tier | Clean credit primarily; minor adverse considered | Clean to moderate adverse |
| Rate structure | Homeowner loan: 2yr/5yr fixed then variable revert. HELOC: variable. | 2-year and 5-year fixed, then variable revert |
| Arrangement fee | £895–£1,495 arrangement fee, tiered by loan size | £995 arrangement fee, flat |
| Completion | Typically 2–3 weeks; AVMs accepted on standard residential cases | Typically 3–4 weeks |
| Property eligibility | Minimum property value £100,000; owned for at least 6 months | Standard residential property; lender will commission a valuation. Most property types accepted including ex-local authority. |
Which should you pick?
Pick Selina if you want the cheapest prime 5-year fix
Selina's 5-year fixed product currently leads the market on prime rates from 6.34% APRC at sub-50% LTV, with a tech-driven application flow and typical completion in 2-3 weeks. Best for clean credit borrowers who want the lowest possible rate at a competitive LTV.
Read full Selina Finance profile →Pick Pepper if you have minor adverse credit
Pepper has broader appetite for minor adverse credit (missed payments, historical CCJs) than Selina, with rates from 6.99% APR on their 5-year fix. Best when the case has any credit blemishes that would push Selina to decline or price punitively.
Read full Pepper Money Secured Loans profile →Pros and cons
Selina Finance
Pros
- • Lowest 5-year fixed rate on our panel at low LTV (6.34% at 50% LTV)
- • High maximum loan size — £500,000 across all clean-credit products
- • The UK's only mainstream HELOC product — interest only on what you draw
- • Digital application and document portal — faster than legacy competitors
- • AVM available on standard cases at sub-75% LTV
Cons
- • Best rates require sub-65% combined LTV — limited above 75%
- • Smaller loans (under £15,000) attract proportionally higher arrangement fees
- • Adverse credit appetite is narrower than specialists like Pepper or Together
- • Property must be worth at least £100,000 and owned at least 6 months
Pepper Money Secured Loans
Pros
- • Strong appetite for self-employed and contractor income
- • Considers CCJs, defaults, and missed payments at higher rates
- • Up to 85% combined LTV with clean credit
- • Backed by an institutional balance sheet — not a P2P platform
Cons
- • Headline rates not the lowest — beaten by Selina Finance on prime cases
- • Maximum loan £500,000 — caps out below some specialist large-loan lenders
- • Application process slightly longer than digital-first competitors
Frequently asked questions
What's the difference between Selina Finance and Pepper Money secured loans?
Selina Finance is positioned for the cleanest prime cases with the lowest market rates (from 6.34% APRC at sub-50% LTV on their 5-year fix) and a tech-driven application flow. Pepper Money is also prime-focused but with broader appetite for minor adverse credit, pricing slightly higher (from 6.99% APR). Both lend up to £500,000 with maximum combined LTV of 85% on selected products. Selina wins on rate for the cleanest cases; Pepper wins on flexibility for anything with credit blemishes.
Is Selina Finance cheaper than Pepper Money?
Yes — for clean credit borrowers at competitive LTVs, Selina's 5-year fixed rate from 6.34% APRC is currently lower than Pepper's equivalent from 6.99% APR. The gap closes at higher LTVs and reverses when the borrower has any minor adverse credit, where Pepper's broader appetite means they will price competitively for cases Selina declines.
Should I pick Selina or Pepper for a secured loan?
If you have clean credit, a strong first charge mortgage record, and want the cheapest 5-year fix at sub-65% LTV, Selina is usually the right choice. If you have any missed payments, historical CCJs, or thinner credit history, Pepper will typically accept and price competitively where Selina may decline. Your adviser can quote both lenders and present the actual rates side by side before you commit.
Get quotes from both lenders
Our advisers quote Selina Finance and Pepper Money Secured Loans side by side against your specific criteria — loan size, LTV, property type, credit profile.