Selina Finance has partnered with Pure Law in a move to deliver completions on its overdraft-style second charge lending facilities.
The partnership will allow Selina to complete on loan cases within hours of receipt of the binding offer, reducing turnaround times and enabling customers to access funds more quickly.
Selina offers pre-approved credit facilities from £25,000 to £1m where borrowers can draw and repay funds whenever they choose, without incurring additional fees or penalties and only paying interest on the amount that is outstanding.
After the first five years, the outstanding balance on the revolving credit facility reverts to a traditional second or third charge for the remaining term.
Commenting on the move, Pure Law CEO, John Symns, said: “We are delighted to be working with Selina Finance.
“It’s been a pleasure dealing with their people as we set this agreement up and we’re delighted to welcome further business from such a technology led and forward thinking lender. We are convinced they will be a big player in the second charge market for many years to come.”
Selina Finance VP growth, Darvish Heshejin, added: "Pure Law is a game-changer for Selina in terms of our ability to complete with speed and efficiency. Working with a firm that shares our ethos on putting the customer first has enhanced our proposition significantly.”
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