Selina Finance has launched a second charge mortgage at 80% LTV.

It is available for loans of up to £1m and charges a rate of 5.70%. It contains to early repayment charges and can be used a standard loan or a credit facility with a flexible period of up to five years.

It charges no additional fees on further drawdowns. Selina Finance adds that third charges are available with no rate-loading.

Selina Finance key account manager Stacey Woods comments: “This marks an exciting addition to our range and we have created this flexible second charge product on the back of feedback from our intermediary partners and the demands of their clients.

“This is just one of many positive enhancements we have lined up for the latter part of 2021 as we continue to adapt and evolve our proposition to meet borrowers ever-changing needs. So, watch this space.”