The lender, which offers home equity lines of credit (HELOCs) and secured homeowner loans, said the new fix will give borrowers rate certainty while maintaining the flexibility often required when raising capital through a second charge loan.

Selina has also removed its debt-to-income (DTI) calculation, which is expected to simplify affordability assessments and help brokers place more cases successfully.

The lender has also increased its maximum borrower age to 80, with earned income now considered up to age 75.

Previously, the maximum age for earned income was 70, while borrowers aged up to 75 were only considered where income was derived from pension or rental sources.

Selina has also reduced its minimum loan amount to £5,000 across all products, down from the previous minimum of £10,000, a change developed to enable brokers to support a wider range of smaller borrowing requirements.

Several additional policy enhancements have also been introduced, including:

• Minimum self-employed age reduced to 21
• Maximum loan amount increased to £300,000 for products between 75% and 85% LTV
• Maximum loan amount increased to £500,000 for the standard home equity loan up to 75% LTV
• Stress-test reduced to support improved affordability outcomes
• Exceptions now considered on higher-LTV products

Selina has also expanded the types of property it will consider, removing restrictions for:

• Grade II-listed properties
• New-build properties
• Timber-framed homes
• Flats above commercial premises
• Scottish freehold flats
• Self-build properties

Income assessment criteria have also been updated to simplify evidence requirements across a range of employment types, including self-employed borrowers, partnership income, overtime, commission, and zero-hour contracts.

Selina Finance head of intermediaries Matthew Batte said: “Brokers are working in a market where speed, clarity and flexibility carry just as much weight as pricing. When cases become complicated or the process slows down, it creates unnecessary friction for both brokers and their clients.”

“That is why a big focus for us has been simplifying how cases move through the process. Removing our DTI calculation and introducing a five-year fixed product with no ERCs on higher loan-to-value lending gives brokers more room to structure solutions that work for their clients, while still providing the certainty many borrowers are looking for.”