Clearly Loans is proud to announce the successful launch of the first mainstream secured loan product in Northern Ireland since the start of the credit crunch
With the largest shareholder coming from Belfast, it’s not such a surprise that the Bricket Wood based lender has taken the step into lending across the water.
Until now, the only secured loan lender active in Northern Ireland in recent years has been Evolution Money, who released their product on 1st March 2012. Their unique range of unlimited LTV secured loans has limitations however, as they will only lend up to £10,000. The new Clearly Loans range smashes that barrier, with secured loans up to £50,000 for home improvements, consolidation of debt or other suitable purposes.
With rates from 13.9% and loans available up to 75% LTV, the launch will be a much needed boost to many homeowners in a restricted Northern Irish lending market.
Sam Busfield, co-founder and director of Clearly Loans & Loans Warehouse said:
“Secured lenders effectively closed the door on Northern Ireland during the credit crunch, but in recent years we have been frustrated at the lack of activity so we decided to take the initiative.”
“We predict that 2014 will see a return for more lenders in Northern Ireland and hopefully Clearly Loans will be a market leader in this space for years ahead.”
The highlights of the Clearly Loans, Northern Ireland range are:
- Rates from 13.90%
- Loans from £7,500 to £50,000
- Term 12 to 240 months
- Up to 75% LTV
- Fixed rates available
- Adverse credit over 24 months ignored
- Minimum time employed 6 months, 12 months for self employed borrowers
- 12 months mortgage history required