“Pure Law is a game-changer for Selina in terms of the ability to finish quickly and efficiently.”
Selina Finance has partnered with Pure Law to finalize its overdraft second charge loan facilities.
The partnership with Pure Law will allow Selina to complete loan files within hours of receiving the firm offer, which will reduce turnaround times and allow clients to access funds faster.
Selina Finance offers pre-approved credit facilities from £ 25,000 to £ 1million, where borrowers can withdraw and repay funds whenever they want, without incurring additional fees or penalties and paying only interest. on the unpaid amount. 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.
Selina’s product can be used as both a term loan and a “home equity line of credit,” which can serve consumers with incremental financing needs (eg, private tuition, major home renovations) as well as lump sum financing needs.
Selina takes care of the granting of its loans with its own proprietary loan platform. The addition of Pure Law to Selina’s legal panel complements this service with increased reliability at the end of the process.
John Symns, CEO of Pure Law, said: “We are delighted to be working with Selina Finance. It was a pleasure to deal with their associates as this arrangement was put together and we are delighted to welcome further business from such a tech-savvy and forward-thinking lender. We are confident that they will be an important player in the secondary charging market for many years to come.
Darvish Heshejin, Vice President of Growth at Selina Finance, added: “Pure Law is a game-changer for Selina in terms of being able to finish quickly and efficiently. Working with a firm that shares our philosophy of putting the client first has significantly improved our proposition.