New secured loan lender unveiled

Published on

ClearlyLoans

A new secured loan lender, Clearly Loans, has launched today.

It will offer loans from £5,000 to £30,000 to customers in England, Scotland & Wales with mild adverse credit up to 85% LTV.

The founders and directors of the Cleary Loans are Sam Busfield and Matt Tristram, directors of secured loan master broker Loans Warehouse and former investment banker Garry Monaghan.

Monaghan has over 24 years experience in investment banking, most recently as the European head of flow rates trading at BNP Paribas.

Tristram said: “Garry approached us early last year with a desire to lend and over the past year we’ve worked hard at designing a product that offers something unique to the secured loan market.

“All products are available on variable or fixed rates with a maximum LTV of 85%, which takes us above the majority of the existing lenders in the market.

“We will focus on customers recent credit activity and we won’t punish borrowers for historic adverse over 24 months or under £300. We will also lend up to 75% LTV on ex-council flats in England, Wales & Scotland which is market leading.”

Tristram added: “We have funding secured for the next two years and will be seeking further investment in due course but for today we’re looking forward to writing our first secured loan with Clearly Loans.”

Monaghan added: “I was attracted to the secured loans market because it offers attractive returns for investors but at rates that also make economic sense for borrowers.

“The market has a solid reputation and it is large enough to enable us to build a good size lending business.”

The products will be available exclusively through Loans Warehouse.

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

1 COMMENT

  1. Great to see another lender entering the market, making lending more competitive for borrowers.

    Best of luck with the new venture…

    Brent

    eloans

Comments are closed.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...