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Who are Clearly Loans?

Clearly Loans Limited is a UK company that works in the area of consumer finance. The company mainly handles second charge secured loans. Unlike other big financial institutions on the high street, Clearly wants to bring a personal feel to the process. The company looks at each loan application by thinking about what makes it unique.

Founded in 2016, Clearly Loans is in Rickmansworth, Hertfordshire. The company is authorised and regulated by the Financial Conduct Authority (FCA). It offers its lending services in England, Scotland, and Wales. Clearly Loans works to be open in how they do business. The company wants to be fair and to make sure it lends in a way that is right for people.

Clearly Loans’ business model uses both old lending ways and new technology together. The company does not just trust automatic checks from third parties. A team of qualified professionals looks at the borrower's credit score, proof of income, and financial statements. They also check the value of your property and how much of it you own. This means Clearly Loans can be a good choice for people with a low credit score or bad credit UK history, as long as the affordability checks can be passed.

What is a Second Charge Loan?

A second charge loan, which is also known as a homeowner loan, is a type of secured loan. This loan does not take the place of your existing mortgage. Instead, it is added on top of the one you already have.

The mortgage lender has the first claim on the property.
Clearly Loans gets the second claim, which gives them legal rights if you do not make your repayments.
This way, you can get additional money from the lender without changing your first mortgage deal.

Second charge loans are commonly used when:

You have a good first charge mortgage rate. You do not want to get a new mortgage.
You want to get more money from your home. This could be for fixing up your house, debt consolidation, or to put money into a small business.
Your personal circumstances make it hard for you to get a new mortgage. Maybe you are self-employed or had some credit problems not long ago.

What Types of Loans Does Clearly Loans Offer?

Secured Homeowner Loans

A secured homeowner loan is the main loan you can get from Clearly Loans. People also call it a second charge mortgage. With this type of loan, you can get cash from the value in your house. You do not have to change your existing mortgage to get the money. This way, you still have your first loan in place, but you also get extra money from your home's value.

Loan amounts: You can get a loan that starts at £10,000 and goes up to £250,000. The amount depends on the value of your property, how much equity you have, and if you can repay the loan.
Loan terms: There is some flexibility here. The loan term can be as short as 5 years or up to 30 years. This lets people spread out their repayments in a way that suits their home budget.
Security: This loan is secured against your house as a second charge. This means the mortgage company has the first charge on your property, and Clearly Loans becomes the second lender to have a legal claim on it.
Interest rate options: Clearly Loans offers several interest rate choices. You can pick a fixed interest rate to keep your payments the same for a set time. A variable rate changes as the lender’s standard rate goes up or down. A floating rate is also an option, and it moves with certain market rates like the monthly equivalent rate – MER.
Payout: After your loan gets approved and you sign all the legal paperwork, the money is paid to you in a lump sum. The cash goes right into your bank account, so you can use the funds right away.

Because secured homeowner loans usually let you borrow more money than other kinds of loans, people often use them for big and important costs. Some examples of this are:

Home improvements and refurbishments: The work can be about getting a new kitchen, fitting a new bathroom, turning the loft into a room, building more onto the house, or making changes and giving the place a full refurbishment.
Education costs: This means paying for college fees, private school fees, or courses for learning to do your job better.
Large purchases: People use money for buying a car, motorbike, campervan, or taking the family on a big holiday that they do not forget.
Debt consolidation: This is about taking old debts and putting them together. The person will then pay everything off in one set way.

These loans give you more choice when it comes to how much you can borrow and how you pay it back. They are a good pick for people who have enough equity but do not want to change their good first charge mortgage rate.

Debt Consolidation Loans

Debt consolidation is a common reason that many people choose Clearly Loans. This type of loan lets you bring several debts together into one. It helps make your payments easier to manage and can lower what you pay each month.

How it works: The debts you have from credit cards, overdrafts, personal loans, or catalogue and store cards are put together into one secured loan. Instead of paying several lenders at different times and rates, you now make one monthly payment to Clearly Loans.
Cash flow benefits: When you spread the debt over more time, your monthly repayment gets lower. This helps leave more cash for day-to-day spending and makes it less likely that you will miss a payment.
Eligibility: Clearly Loans looks at people with a low credit score or whose credit history is poor. You might still get the loan if there is enough value in your home for the secured loan and if you have strong proof of income.

Detailed illustration:
Think about a borrower who owes £30,000 that is split between five credit cards. The rates on the cards are from 17% to 21% APR. Every card needs a different minimum payment. Altogether, the borrower has to pay almost £800 each month. The borrower is finding it hard to keep up with this.

By bringing all these balances together with a £30,000 secured homeowner loan at 10% APRC over 15 years, the borrower can cut their monthly payment down to about £320–£350 each month. This can save them almost 50% on their monthly costs.

Upside: You can get better cash flow, easier budgeting, and feel less stress from handling many creditors.
Downside: Since the loan term is longer, you could pay more interest over time than if you paid your debts off fast. People should think about the portion of the loan they save each month and think about the total cost.

Other considerations:

Some people get debt consolidation loans so they do not fall behind on things like payday loans or other high-cost debt.
A consolidation loan is not like a card or overdraft. It comes with a set loan agreement. This gives you fixed terms or sometimes terms that may change.
If you have a bad credit UK record, a secured debt consolidation loan might be one of the few ways for you to get your money problems under control again.

Home Improvement Loans

One of the main ways people use a secured loan with Clearly Loans is to pay for home improvements. These loans usually give you a larger lump sum than many personal loans. This makes them good if you need more money for big house projects.

Typical uses include:

Fixing up the kitchen with new and modern things, tools, and machines
Making the bathroom better by updating or putting in new things
A loft conversion or a bigger space to make a new bedroom or space for an office
A full refurbishment to make an old home feel modern and up-to-date
Making outdoor space better by adding something like a conservatory, garden office, or a new patio with nice landscaping

Homeowners often pick secured loans for home improvements because these loans come with several benefits. A secured loan uses your home as a guarantee, so the lender has something to hold if you do not pay back the money. This helps you get better interest rates and more money to use for things you want to fix or change in your house. These loans are usually paid back over a longer time, so your monthly payments can be lower. A lot of people feel this makes it easier to manage the cost. In the end, a secured loan can be a good way to have the money needed, feel sure about meeting payments, and make your home look and feel better for you and your family.

The size of the loan is much bigger than what you get from a personal loan or credit card, so you can finish full projects. You do not have to do upgrades in small steps.
With payments spread over 5 to 30 years, you get good monthly payments that you can afford. This helps to keep your household cash flow in order.
Putting money into your property may help the value of your home go up, giving you more equity after some time.
A few people use this instead of getting a new loan or a remortgage, especially if they got their first charge mortgage at a very low rate and do not wish to lose it.

Here is an example:
A family lives in a detached freehold house that is worth £300,000. They have a mortgage of £150,000. The family decides to get a £40,000 secured loan. They use the money to build a full extension and to redo their kitchen. After the work is done, the house is now worth £370,000. The family can now enjoy more space, and the equity in their home has also gone up.

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Business Loans Secured Against Property

Clearly Loans helps small business owners by giving loans that use your home as security. This kind of loan can help a lot if banks or financial institutions won’t give you the money you need. If building societies say no, you still have this option. So, small business owners can get help from Clearly Loans when it is hard to find support from other places.

Key features:

The amount you can borrow depends on how much value the borrower has in their property.
The loan is safe for the lender because they use a second charge, which is similar to what you get with a homeowner loan.
You will get the money as a lump sum. It will be sent by bank transfer.
There will be a clear loan agreement. It will show you all the loan terms, the type of interest, and when you need to pay the money back.

Common uses for business secured loans:

A working capital loan can help you with your daily cash flow needs.
You can buy equipment or vehicles for the company.
You may use it to make your business premises bigger or give them a fresh look.
It also helps when you need to buy stock to keep up during busy times.

A self-employed café owner has a home. It is worth £250,000. He still needs to pay £120,000 on his mortgage. He can get a business loan of £30,000 by using the house as security. The money from the business loan is used to make the café bigger. He adds more seats and buys new kitchen equipment. This helps the café serve more people. It also helps the café bring in more money.

For a small business that has equity but can’t get regular bank loans, this is a flexible way to get money fast. You do not have to look for a guarantor or fill out a long, hard loan application. This can be a good choice for small business owners who want another way to raise capital.

Personal Loans (via Panel of Lenders)

While Clearly Loans focuses on offering secured home loans, not all who apply will be right for a second charge mortgage. In these situations, Clearly has a group of lenders they work with to give you unsecured personal loan options.

Details:

You can borrow from £1,000 to £25,000.
You need to pay it back over 1 to 7 years.
The money comes as a lump sum sent to your bank account.
Interest rates are normally higher for this type of loan as you do not have collateral.
You will get a loan agreement that explains your repayment terms and what you have to pay back.

Popular uses:

The money can help you go on that dream holiday or have a nice wedding.
You can use it if you need to pay for things you did not plan for, like medical bills or fixing your car fast.
It helps people deal with big life things without using the money they have saved.

Because these loans are not backed by anything you own, they often come with higher interest rates than a homeowner loan. Still, these loans can work well for people who do not want to risk their home. They are also a good choice if you need only a small amount of money and want to pay it back in a short period of time.

Loan Eligibility Criteria

Clearly Loans can help you with getting a loan. The rules for getting the money are open, but you still need to meet some basic needs. These must be followed before you get a loan from them.

To qualify, you usually need to:

You must be 21 or older.
You have to live in the UK, which can be in England, Wales, or Scotland.
You must be a homeowner and have some equity in the home if you want a secured product.
You need to give proof of income, like payslips, tax returns, or financial statements.
You have to show your latest bank statements to prove you can afford the repayments.
You need to have a UK bank account, because this is where the repayments will come from.
You must pass a credit check. But, people with a low credit score or poor credit can still get looked at based on their own case.
You should also show that you can make the regular monthly loan payments for the whole loan term.

Clearly Loans cares about fairness when it comes to eligibility. A team of qualified professionals looks at every application instead of letting a computer decide everything on its own. This helps people with income that goes up and down, like those who are self-employed. It also helps you if you have old credit problems but your current affordability is good.

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Key Features of Clearly Loans

When you look at a lender, it is good to know what makes them different from other people and companies. Clearly Loans is a lender that stands out as a specialist in second charge mortgages. The company puts a big focus on being open about everything. They also work to give you personal service and be flexible. Here are the top things about their secured lending products that make them special:

Loan Amounts and Terms

The amount you can borrow is from £10,000 to £250,000, based on how much your property is worth, the equity you have, and if you can afford it.
You can pick a loan term that fits you, from 5 years up to 30 years. This lets people feel in control over how they make repayments. A loan with a short term means higher monthly payments but you will pay less interest. A long term means lower monthly payments, so there will not be as much stress on your cash flow and affordability.

Human-Led Decision Making

Unlike many other digital-only lenders that only use computers to check who can get a loan, Clearly Loans has a team of good professionals. These people look at each loan application the right way, not just with an automated scoring model.
This way of working lets the lender look at personal circumstances that computers might miss. Some things, like having income that goes up and down, being self-employed, or having signs of poor credit in the past, need a personal touch.
If you are a borrower with a low credit score or have had money troubles before, you may still get a loan as long as you can show you have a steady income and a clear plan to pay back the money. A lender can take time to see this and help people get what they need.

Range of Interest Structures

Clearly offers several ways to structure interest:
- Fixed interest rate: Your repayments stay the same for a set time. This helps with your budgeting and gives you certainty.
- Variable rate: Your repayments can go up or down. The lender sets these based on their standard variable rate, so what you have to pay could change over time.
- Floating rate: This rate moves with the bigger market. It uses things like the monthly equivalent rate (MER). You might save money when market rates are low.
To have different types of interest rate gives borrowers choice. It lets you pick the loan agreement that works best for your money goals.

Transparent Loan Agreements

Every Clearly Loans product comes with a clear and simple loan agreement that you can read easily.
The lender shows values of transparency by sharing the APRC, fees, how you will pay back the loan, and all conditions right from the start.
Borrowers are told to get professional advice to make sure the loan is right for them before they sign anything.
There are no hidden fees. Everything like arrangement fees and early repayment charges will be shown at the beginning.

Inclusive Lending Criteria

Clearly Loans is open to people in the UK who have bad credit or poor credit. You will need to show that you can afford the loan and have enough equity.
The lender is open to those who might struggle to get a loan from mainstream lenders or from other financial institutions on the high street.
Clearly Loans looks at each application on its own. This gives people in harder situations a way to get the loan they need.

Regulation and Consumer Protection

Clearly Loans Limited is authorised and regulated by the Financial Conduct Authority (FCA). This means the lender must follow UK lending rules.
Since Clearly is a regulated lender, it must be fair to customers, carry out good affordability checks, and give all details about the risks of secured borrowing.
This regulation helps people feel safer. Borrowers get the protection of UK consumer credit law, which gives them rights to clear papers and help if they want to complain.

Typical Interest Rates for Clearly Loans

Interest rates change depending on the product, the loan size, LTV, and your credit profile.

Loan Type	Typical APRC Range	Notes
Secured second charge loans	6% – 12% APRC	Dependent on equity, LTV, and borrower profile.
Debt consolidation loans	7% – 13% APRC	May carry higher interest rates for low scores.
Business loans	8% – 14% APRC	Secured on property to support a small business.
Unsecured personal loans	8% – 15% APRC	Via panel of lenders, higher costs.

People that have a good credit history might get lower interest rates. On the other hand, those that have bad credit usually pay higher rates.

Repayment Examples

Loan Amount	7% APRC over 10 yrs	10% APRC over 15 yrs	12% APRC over 20 yrs
£25,000	~£290/month	~£270/month	~£275/month
£50,000	~£580/month	~£540/month	~£550/month
£100,000	~£1,160/month	~£1,080/month	~£1,100/month

These are just examples. The final terms will depend on the loan agreement, the APRC, and if you pass checks on affordability.

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Clearly Loans vs Other Lenders

Feature	Clearly Loans	United Trust Bank	Building Society
Max Loan	£250,000	£1,000,000	£250,000–£500,000
Loan Type	Second charge	First & second charge	Primarily mortgages
Flexibility	Manual review	Mix of manual & automated	Strict criteria
Credit History	Bad credit considered	Strong profiles favoured	Prime borrowers only
Products	Secured, debt consolidation, business	Mortgages, secured	Mortgages, personal

How Does Clearly Loans Differ from Cleerly and Other Online Lenders?

Clearly Loans in the UK deals with secured lending. It is regulated by the FCA.
Cleerly from the US is in health-tech. It is not a finance provider.
Many online lenders give people only credit cards or a line of credit. Clearly, on the other hand, offers set loan agreements for bigger amounts of money.
People check applications and do not use just algorithms.

Independent Reviews of Clearly Loans

Borrowers can read what people say on Trustpilot and Reviews.io.

Themes include:

The people here talk in a clear way and always tell you what is happening.
They help those who have bad credit UK or a low credit score.
The team is made up of people who know what they are doing, and they give good help.
A few people say it takes more time to process than other fast tech lenders. But they check things more closely.

Benefits of Clearly Loans

The lender is FCA-regulated.
They are a specialist in second charge loans for people who own their homes.
They have clear prices and there are no hidden fees.
They can help people who have poor credit or a low credit score.
There are flexible options for both personal and small business borrowing.

Risks and Cons

Your property may be at risk if you miss repayments.
There could be early repayment charges.
The maximum loan is smaller than what competitors like United Trust Bank offer.
Interest costs are higher compared to some high-street financial institutions.

FAQs about Clearly Loans

You will usually need the following things: your ID, proof of income, financial statements, and bank statements.

Yes, but this could mean you have to pay higher interest rates. The lender looks at bad credit UK cases one by one.

Yes. Clearly Loans Limited is fully approved by the FCA.

No. Loans are backed by property, so there is usually no need for a guarantor.

Yes, you can do it, but there may be early repayment charges, depending on the product.

Yes, Clearly gives out secured business loans. These loans can help with cash flow and offer working capital loans.

Once you get approved, you will get the money by bank transfer. You get the whole lump sum at one time, and it usually comes within a few weeks.

Yes. A lot of people use loans when they want to pay for a refurbishment, extensions, or upgrades to their home.

Fixed rate: This is when the rate stays the same for a set amount of time.
Variable rate: This type of rate can go up or down based on the standard variable rate from the lender.
Floating rate: This rate changes along with big market benchmarks like the MER (monthly equivalent rate).

Yes, Clearly provides loans to people in England, Scotland, and Wales.

Compare Clearly Loans from FCA-Authorised Lenders

Who are Clearly Loans?

What is a Second Charge Loan?