Secured lender Clearly launches in NI

Previously Evolution Money, who released their product on 1 March 2012, were the only secured loan lender active in Northern Ireland.

The new Clearly Loans range offers secured loans of up to £50,000 for home improvements, consolidation of debt or other suitable purposes, far exceeding the 10,000 limit available on Evolution Money loans.

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.”

Rates start from 13.9% with loans available for up to 75% loan to value.