Selina Homeowner Loan Second Charge Mortgage

Selina offers a second charge homeowner loan, allowing UK borrowers to access home equity for major expenses without affecting their first mortgage.

Last checked on September 19, 2026. We may earn a commission when you click through.

✓ Flexible loan amounts from £5,000 to £500,000 ✓ Lower rates than personal loans or credit cards ✓ Quick approval and funding process

Mortgage Selina Finance Reviewed

Selina Homeowner Loan Second Charge Mortgage

Updated 26 days ago

APR Range

5.89–8.05%

Amount

£5k–£500k

Term

60–360 months

Type

homeowner_loan

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Our Verdict

This loan provides for homeowners needing access to their equity, but the requirement for an affordability assessment may deter some applicants. It's a valuable option for those looking to consolidate debt or fund home improvements.

Best For

Homeowners with good equity and credit scores looking to consolidate debts or finance renovations.

Watch Out

Approval is contingent on a thorough affordability assessment and credit check, which may exclude some applicants.

Pros

Flexible loan amounts from £5,000 to £500,000
Lower rates than personal loans or credit cards
Quick approval and funding process
Suitable for debt consolidation and home improvement
No impact on credit score from initial eligibility check

Cons

Requires property valuation and credit check
Affordability assessment may disqualify some applicants
Secured against home, risking repossession
Higher APR for those with lower credit scores
Potentially longer repayment terms increase total interest paid

Full Review

At an APR range of 5.89% to 8.05%, Selina's homeowner loan is notably more affordable compared to many personal loans and credit cards. Borrowers can access between £5,000 and £500,000, with repayment terms from 5 to 30 years, which provides flexibility in managing repayments. The application process is relatively quick, with funding occurring shortly after approval.

However, potential borrowers must be aware that securing debts against their property carries risks, including the possibility of repossession if repayments are not maintained. In comparison to other lenders, Selina's loan may offer lower rates, but the requirement of a credit check and property valuation could be barriers for those with less favourable financial profiles. The requirement of available home equity is also a significant consideration for many potential borrowers.

Overall, this loan is those who have an established credit history and sufficient equity in their homes to leverage for major expenses. It's advisable to explore the official site for more details and to ensure you understand the terms involved.

Who Is This For?

Homeowners in the UK with good equity and credit ratings who need financing for significant expenses.

What Borrowers Say

Borrowers generally appreciate the quick approval process but express concerns about stringent credit requirements.

Summary

Selina Finance offers a second charge homeowner loan with amounts ranging from £5,000 to £500,000 and an APR of 5.89% to 8.05%, with terms available from 5 to 30 years.