Clearly Loans has unveiled the first mainstream secured loan product in Northern Ireland since the start of the credit crunch.

The new Clearly Loans range offers secured loans up to £50,000 for home improvements, consolidation of debt or other suitable purposes. Rates start from 13.9% and loans are available up to 75% LTV.

Fixed rates are available and adverse credit over 24 months will be ignored.

The minimum time of employed is six months and 12 months for self-employed borrowers, and 12 months’ mortgage history is required.

Sam Busfield, co-founder and director of Clearly Loans and 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.”