With the largest shareholder coming from Belfast, it’s no 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. While their unique range of unlimited LTV secured loans has limitations, as they will only lend up to £10,000, the new Clearly Loans range contains 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 boast to many homeowners in a restricted Northern Irish lending market.
Sam Busfield, co-founder and directors of Clearly Loans & Loans Warehouse comments:
“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.”
