Selina Finance launches property investment credit facility
Digital secured lender Selina Finance has launched its property investment credit facility for landlords and property investors.
The credit facility acts like a bridging loan and provides borrowers with a simple and low-cost way to access funds whenever needed.
Selina Finance is targeting turnaround times on its new credit facility of five working days.
Rates start from 5.75% with loan terms up to three years and a maximum LTV of 70%.
Michael Biemann, managing director at Selina Finance, said: “This new credit facility combines affordability and flexibility and acts like a hunting licence for savvy property investors and landlords.
“We have spent much of 2019 speaking to our borrowers on what the market needed and the ‘flex-affordable’ credit line we have created will hopefully go a long way to answer that.
“In recent months, activity among private landlords has really started to pick up after a tough four years and so the launch of our new product could prove to be very timely.
“As ever, the full loan application process can be carried out online, which makes for a faster and more seamless application experience for brokers and clients alike.”
The facility is intended for landlords and experienced property investors with at least three units in their portfolios and is available to both individuals and limited companies.
The minimum loan amount is £25,000 and the maximum is £400,000.