Why Get a Secured Loan?

If you need to borrow money based on the amount of equity in your home, by all means do some shopping around first. You typed in oprtland building society, but through our services you can get a great view of what else is available.

Different people need fast cash for varied needs and wants. If you own your own home, you will usually be able to receive a loan up to the value of your home from a secured lender like Portland Building Society.

There are quite a few reasons why one would be looking for a secured home owner loan rather than a remortgage. First of all, if one's credit standing has declined since getting their original mortgage, the interest rate they will now be able to qualify for will likely be higher than the original mortgage, and this higher rate will apply to the whole loan balance. Also, if rates in general have gotten higher, one would definitely not want to forfeit the lower interest rate he has on the old mortgage. So, if he needs an extra 20,000 to have a swimming pool installed, he won't surrender that original rate. He can get a secured loan for simply the quantity he needs, and possibly even pay it off early.

Besides, even if remortgages are in the main at lower mortgage rates than homeowner loans, there are still some companies in the United Kingdom that offer very attractive mortgage rates on secured home owner loans. Low Cost Funding has relations with these select lenders, and we specialize in linking you up with these to find you the reliable source that that will match your needs. For example, there are corporations that specialize in bad credit secured home owner loans. And other sources that feature special low rate programs for individuals with great credit. Furthermore, there are some second charge loan merchants that are more geared towards smaller loan amounts than other companies.

Another benefit of getting a secured homeowner loan is length of time in getting your loan. How rapidly can you get your money with a secured loan? Well, in the UK, for loan companies like Portland Building Society, loans smaller than 25K are regulated by the Consumer Credit Act of 1974. This means that there is a 2 week delay before your funds can be disbursed, at the very least. However, loans with amounts greater than 25K are unregulated, and as as result it is feasable to get your funding approved the very next day. Compare this to a remortgage, where you will have a much longer waiting period before you get your loan money.

Low Cost Funding can furnish you with a quick quote on a secured loan no matter what the purpose. As stated earlier, we can immediately search from amongst top funding sources in the UK to choose the best companies for your specific needs. And because we are paid by the lenders, there are no additional costs to you for using our company. So if you were seeking oprtland building society to get a secured loan, take 2 minutes and fill in our form to see what other money-saving options are out there.