We’ve introduced a series of policy enhancements designed to give you greater flexibility, stronger affordability and broader customer reach.
Here are four key updates to highlight:
- 5-Year Fixed WOERC on HLTV We’ve launched a 5-year fixed with no ERC option on our HLTV product (above 85% LTV), giving customers greater rate certainty while maintaining the flexibility Selina is known for.
- Maximum Age Increased to 80
Our maximum age has increased to 80, with earned income considered up to age 75. This opens up more opportunities to support later-life borrowers with confidence. - Enhanced Hometrack Matrix After recently launching No Vals, we have taken another huge step forward by giving our hometrack eligibility a complete overhaul. This means you will see more No Val products than ever before.
- Removal of DTI This additional affordability calculation has now been removed to help you place more cases with Selina.
There are also several additional updates listed below. Your BDM will be in touch to walk you through the full set of changes and what they mean for your pipeline.
- Minimum self employed age reduced to 21
- The maximum loan amount across all products (75-85% LTV) has increased to £300k
- The maximum loan amount for the standard Home Equity Loan (up to 75% LTV) has increased to £500k
- Stress test reduced
- We will now consider exceptions on HLTV
- Restrictions are removed for
- Grade II listed properties
- New build properties
- Timber framed properties
- Flats above commercial
- Scottish freehold flats
- Self-build properties
- 3 month minimum for second and zero hour jobs
- Self employed salary only – evidenced by payslips only (no accountant certificate required)
- Self employed dividends and salary can be evidenced by SA302s and 3 months bank statements
- Sole Trader income only requires one years SA302 and 3 months bank statements
- Income from partnerships (Professional – Law/Accountants etc) only require payslips
- Overtime & commission evidenced by 3 months payslips
- And that’s not all…
NEW: Accountancy Certificate
We’ve also introduced a new Accountancy Certificate to support self-employed cases.