| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 6.39–8.37% | £5k–£500k | 60–360 mo | home_equity |
Best For
Homeowners with significant equity seeking flexible financing options without remortgaging.
Homeowners with decent credit scores looking for flexible funding options without remortgaging.
Selina Finance offers a home equity line of credit with amounts from £5,000 to £500,000, terms of 60 to 360 months, and an APR range of 6.39% to 8.37%.
Pros & Cons
Watch Out
The approval process includes a credit check and affordability assessment, which could limit access for those with lower credit scores.
Full Review
The Selina Home Equity Line of Credit offers a flexible way to access your home's equity, allowing amounts from £5,000 to £500,000 with terms up to 30 years. The APR ranges from 6.39% to 8.37%, which is more affordable than many personal loans and credit cards. Approval is typically quick, with funding shortly after approval, but be prepared for an affordability check and a property valuation, which can take time.
Borrowers should consider how this second charge mortgage might impact future borrowing. This product is those who have enough equity in their home (up to 85% LTV) and can manage repayments without jeopardising their financial stability. Your home could be at risk if repayments are not maintained, so careful budgeting is advised.
What Borrowers Say
Customers appreciate the flexibility and quick approval process, but some express concerns over the stringent credit checks.
