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.

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

LendInvest buy-to-let rates at lowest level since 2021

LendInvest has announced a round of rate cuts across its buy-to-let mortgage range, marking...

Rental yields hold firm as landlords maintain appetite for expansion

Landlords across England and Wales are continuing to enjoy stable rental yields and remain...

LiveMore enters Growth 500 with 721% revenue rise over three years

LiveMore, the specialist mortgage lender catering to customers aged 50 to 90 plus, has...

Hinckley & Rugby trims rates across whole offering

Hinckley & Rugby for Intermediaries has announced sweeping rate reductions of up to 23...

Inspired Lending aids stalled Devon scheme with £800k finish and exit loan

Inspired Lending has completed an £800,000 funding deal to support the completion of a...

Latest opinions

We need to look again at two-year swaps…

Over the last 12 months, we’ve seen three notable things happen in the swaps...

How product transfers can help landlords and brokers in a challenging market

In an ever-changing buy-to-let market, the task of managing a property portfolio becomes increasingly...

Finding the ‘yes’ on finance for trading businesses

Pressure on UK trading businesses continues to mount, driven by rising costs, tight cash...

Bridging finance for refurbishment – is it light, medium or heavy?

Not all refurbishment projects are created equal. The type of works being undertaken will...

Other news

We need to look again at two-year swaps…

Over the last 12 months, we’ve seen three notable things happen in the swaps...

LendInvest buy-to-let rates at lowest level since 2021

LendInvest has announced a round of rate cuts across its buy-to-let mortgage range, marking...

Rental yields hold firm as landlords maintain appetite for expansion

Landlords across England and Wales are continuing to enjoy stable rental yields and remain...