Why Get a Secured Loan?

If you are seeking to borrow money based on the amount of equity in your home, by all means do some comparison shopping first. You typed in lombaed direct, but through our service you can get a great view of what else is available.

Homeowners need access to funds for diverse reasons. If you own your own home, you will in most cases be able to get a loan up to the value of your home from a secured lender like Lombard Direct.

There are quite a few reasons why one would be in need of a secured homeowner loan rather than a remortgage. For one thing, if one's personal credit standing has declined since they obtained their original mortgage, the rate they can manage to get will most likely be higher than the original mortgage, and the new higher rate applies to the total balance. Furthermore, if rates in general have risen, one would not want to part with the lower interest rate he has on his mortgage. Thus, if he needs an extra 20,000 to have a swimming pool installed, he doesn't have to lose that original rate of interest. He can get a secured homeowner loan for exactly the amount he needs, and perhaps even pay it early.

Besides, even if remortgages are in general at lower mortgage rates than second charge loans, ther are in fact some loan merchants in the UK that can offer very attractive rates on homeowner loans. Low Cost Funding has relations with these select lenders, and we specialize in quickly scanning these to find you the money lender that will match your needs. For example, there are corporations that specialize in bad credit secured homeowner loans. And others that feature special low rate loans for home owners with superior credit. Furthermore, there are some secured home owner loan merchants that are more favorable towards smaller loan amounts than other lenders.

Another benefit of getting a secured loan is length of time in getting your loan. How rapidly can you get your money with a secured loan? Well, in the U.K., for loan companies like Lombard Direct, loans beneath 25K are regulated by the Consumer Credit Act. This means that there is a 2 week hold before your loan can go through. However, loans for amounts greater than 25,000 are not under regulation, and thus it is sometimes possible to get your funds approved the very next day. This can be light years faster than a remortgage, where you will have to wait a lot longer before you get your loan money.

Low Cost Funding can deliver a rapid quote on a secured loan for any needs you may have. To reiterate, we are able to quickly search from amongst top secured loan merchants in the U.K. to choose the best loan merchants for your individual situation. And because we get paid by the lenders, there's no extra cost to you for using us. So if you were seeking lombaed direct to get a secured loan, take a couple of minutes and fill out our form to see what other money-saving options are there for you.