Your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured on it.
Clearly Loans homeowner loans
Clearly Loans offers secured loans of £5,000 to £100,000 to UK homeowners who already have a mortgage.
If you’re consolidating debt or improving your home, Clearly Loans could help with a homeowner loan – also known as a second-charge mortgage.
Overall representative example
If you borrowed £35,000 over a 14-year term at 8.95% p.a. (variable), you would make 168 monthly payments of £418.88 and pay £70,371.84 overall, which includes interest of £30,326.84, a broker fee of £3,550.00 and a lender fee of £995.00. The overall cost for comparison is 11.8% APRC representative.
If you borrowed £35,000 over a 14-year term at 8.95% p.a. (variable), you would make 168 monthly payments of £418.88 and pay £70,371.84 overall, which includes interest of £30,326.84, a broker fee of £3,550.00 and a lender fee of £995.00. The overall cost for comparison is 11.8% APRC representative.
Key features of Clearly Loans personal loans
- Borrow £5,000 to £100,000. The amount you can borrow will be determined by factors including your credit score, affordability and the amount of equity in your home.
- Joint application. If you are married, co-habiting or have a joint mortgage, you’ll need to apply with the other person.
- Fixed and variable rates. Depending on the product you choose, you’ll either have a variable interest rate (meaning it can change at the lender’s discretion), or an introductory fixed-rate period that then reverts to a variable rate.
- Spread your loan over 4 to 20 years. You can opt for longer loan terms to keep your monthly repayments down. The interest rate you pay may differ according to the loan term you opt for (amongst other factors).
- Early settlement. You can pay off your loan early in full or in part at any time by contacting Clearly Loans to request a “final settlement figure”. There may be a fee for doing this.
Am I eligible for a Clearly Loans secured loan?
You should only apply for a Clearly Loans homeowner loan if you’re certain you can meet the repayment terms. You must be a homeowner living in England, Wales or Scotland. You also need to have an existing mortgage and be over the age of 21 to apply. If you own your home jointly, you must apply with the other person.
How can I apply
Clearly Loans accepts applications through brokers. You can click on a “get quote” button above, then fill out your contact information and details about your property value and mortgage. An adviser will then call you to discuss your application and suggest the loan that best suits your needs.
Frequently asked questions
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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