Selina Finance Secured Loans

Selina's fixed-rate Home Equity Loans start at 6.34% APR for a 5-year fix at 50% LTV with clean credit. Rates progress to 6.39% at 65% LTV and up to around 9.09% at 85% LTV for minor adverse credit. The HELOC product is offered on a variable rate, currently from around 5.29%, with interest only charged on funds actually drawn down. The maximum rate across all products is capped at 15% APR.

Representative example for a £30,000 Home Equity Loan over 120 months at 6.34% APR (variable): monthly repayment £339.34, total loan repayments £40,720.80, Selina arrangement fee £995, Charles Frank Finance broker fee £2,495. Total amount payable £44,210.80. Total charge for credit (interest plus fees) £14,210.80. Representative APRC 8.1%. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Selina Finance is a direct lender. Selina Advisors Ltd is FCA-authorised under FRN 901336 to lend their own funds for second charge mortgages and HELOC products. Charles Frank Finance Limited (FRN 624668) is the broker arranging Selina products on this site.

£5,000 across all Selina products — Home Equity Loan and HELOC. The minimum was lowered from £10,000 (homeowner loan) and £5,000 (HELOC) to £5,000 across all products in March 2026, broadening the case profile downwards. Maximum loan is £500,000 subject to LTV and affordability.

Selina announced four product changes in March 2026 that materially affect case fit: (1) a 5-year fixed-rate product was launched with no early repayment charges — unusual at prime rate levels; (2) the debt-to-income (DTI) ratio calculation was removed from underwriting, moving to case-by-case affordability that better suits self-employed and complex income borrowers; (3) the maximum borrower age was raised to 80 at term-end with earned income permitted to age 75; (4) the minimum loan size dropped to £5,000 across all product lines (previously £10,000 on the Home Equity Loan). These changes made Selina materially more competitive on older borrowers, smaller loans, and complex income cases.

80 at term-end (since March 2026, raised from 75). Earned income is accepted up to age 75; pension and investment income can support borrowing beyond that point up to the age-80 term-end cap. Term length is calibrated accordingly — for older applicants this typically means a shorter maximum term to land within the age limit.

No — Selina removed the debt-to-income (DTI) ratio calculation from underwriting in March 2026. Affordability is now assessed case-by-case using disposable income after existing commitments, household bills, and dependents — not a fixed DTI threshold. This makes Selina materially more flexible on self-employed borrowers, contractors, and complex income cases that previously failed DTI scorecards despite strong actual affordability.

Yes — since March 2026. Selina launched a 5-year fixed-rate Home Equity Loan with no ERCs (early repayment charges), which is unusual at this rate level — most prime 5-year fixes carry tapering ERCs of 1-5% during the fixed period. The no-ERC structure suits borrowers who want long-term rate certainty but expect they may repay early (e.g. from a property sale, inheritance, or refinance).

The property must be worth at least £100,000, owned by the applicant for at least 6 months, and must be standard residential construction. The combined LTV across your first charge mortgage and any other secured borrowing including the Selina loan cannot exceed 85%.

Unlike a standard fixed-sum secured loan, the HELOC gives you an approved credit facility secured against your property which you can draw down in stages over a 5-year drawdown period. You only pay interest on the amount actually drawn, not the full facility limit, and you can repay and redraw freely with no early repayment charges. After the 5-year drawdown period, the outstanding balance converts to a standard repayment schedule.

Yes. Selina assesses self-employed income via SA302s and tax year overviews, typically averaging the latest two years' net profit. Limited company directors are assessed on salary plus dividends.

Selina considers minor adverse credit, but they're not the strongest match for cases with recent CCJs or multiple defaults. For more flexible adverse credit underwriting, Pepper Money, Norton Finance or Masthaven typically offer better fit.