December 2019
By Tom Wood, Growth Manager at Selina Finance
2019 started with a bang for Selina Finance as we officially established ourselves in the UK and began offering secured finance to both businesses and property investors. Backed by a European investment company called Picus Capital, our aim is to provide individuals across the UK with an affordable and flexible source of finance, that enables them to utilise the value they’ve built up in their property.
Launched 2 new lending products
Of most interest to readers will be the two lending products that we launched this year.
Back in June, Selina Finance launched our business credit facility, providing business owners with a line of credit that is secured against a residential or buy-to-let property. We offer up to £500,000 at rates starting from 6% per year with no early repayment fees, setup fees or valuation fees.
Then in September, we launched our property investment credit facility. An overdraft-like facility, secured against a buy-to-let portfolio, that provides property investors with a flexible line of credit of up to £1 million and rates starting from 0.66% per month.
Grown the team to 30 staff
There’s a lot of work that has gone into these exciting developments and as a result we’ve also been busy expanding our team. Having started the year with just 2 employees, we’ve grown at an incredible rate and now boast over 30 staff in the office.
This diverse team is made up of highly skilled professionals from MarketInvoice, Nested, RBS, Morgan Stanley, Bain Capital and much more, with employees bringing a wealth of knowledge in finance, real estate and technology.
As the company has grown at such a fast rate, we’ve also needed a lot more office space, which has meant moving into our lovely new office on Hanway Place, right next to Tottenham Court Road tube station in London. Here we host, clients, develop our in-house technological capabilities and underwrite the cases that are sent to us by intermediaries and brokers.
Began working with an array of intermediaries
Speaking of brokers, from the fourth quarter of 2019, we’ve begun working extensively with an array of intermediaries from business finance brokers to specialist packagers and everything in between. We see these intermediaries and brokers forming an important part of our future and look forward to further strengthening our relationship with these key players in the market.
Beyond 2019
As we move into 2020, we’re incredibly excited about the opportunities ahead of us. We plan to continue distributing our business and property investor credit facilities via intermediaries while also entering the regulated space to be able to offer a consumer credit facility. WIth an aim of reaching £100m of lending by the end of 2020, we’re not hanging around as we continue to grow.
If you are a broker and want to submit a deal with us then visit www.selinafinance.co.uk/broker or if you want to get in touch with us then write to growth@selinafinance.co.uk or give us a direct call at 02039 849213.