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Selina Finance obtains funding and cuts rates - Mortgage Solutions
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Legal & General Mortgage Club welcomes Selina Finance to lender panel
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Legal and General Mortgage Club has today added specialist lending provider Selina Finance to its lender panel. It said the addition of Selina Finance will give the club’s network of adviser's access to a wider range of specialist mortgage products suitable for consumers with more complex financial circumstances.
HomeNewsLoans First flexible secured loan in the UK launched Published: 30/04/2021 Share
A new type of secured loan has been launched offering borrowers the option to drawdown funds as and when they need them rather than having to take a full lump sum. This new loan, the ‘FlexiLoan’ is the first of its type in the UK and is the creation of Selina Finance, a fintech lender.
The FlexiLoan allows borrowers to access funds secured against their home up to a pre-approved credit limit. Once approved, they can take what they need when they need it and are only charged interest on funds taken. This is a significant difference to other types of secured loans that only offer borrowers a single lump sum. The ability to drawdown funds as needed rather than taking a lump sum could save some borrowers money as they will only be charged interest on when the money is taken.
Clever Lending partners with Selina Finance to offer FlexiLoan
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