Why Get a Secured Loan?

If you want to borrow money based on the amount of equity in your home, by all means do some shopping first. You typed in portland buiilding society, but by using our services you can do your comparison shopping.

Many people need available funding for all kinds of purposes. If you are a home owner, you will find that you should be able to obtain funds up to the value of your home from a secured lender like Portland Building Society.

There's many a reason why one would have a use for a homeowner loan rather than a remortgage. First off, if one's credit has deteriorated since getting their original mortgage, the rate they will now be able to get will most probably be higher than the original mortgage, and this higher rate will apply to the whole outstanding loan. Also, if interest rates in general have gotten higher, one would not want to surrender the lower rate he has on the old mortgage. Thus, if he needs an extra 20,000 to have a swimming pool installed, he will not relinquish that original rate of interest. He can get a secured loan for only the quantity he needs, and maybe even pay the second charge loan off early.

Besides, even though remortgages are more often than not at lower percentage rates than secured home owner loans, ther are in fact some lenders in the UK that do in fact offer very attractive mortgage rates on homeowner loans. Low Cost Funding has access to these loan merchants, and we specialize in rapidly shopping these to find you the lender that will meet your needs. As an example, there are companies that specialize in bad credit second charge loans. And other companies that feature special low rate loans for persons with excellent credit. Moreover, there are some secured loan merchants that are more tailored to lesser loan amounts than other companies.

Another benefit of getting a secured homeowner loan is speed. How speedily can you get your funds with a secured loan? Well, in the UK, for loan companies like Portland Building Society, loans under 25K are regulated by the Consumer Credit Act. This means that there is a 2 week hold before your funds can be disbursed, at the very least. However, loans over 25K are not regulated, and so it is at times possible to get your loan approval the very next day. This compares very favorably to a remortgage, where you will have much more af a wait before you get your loan money.

Low Cost Funding can deliver a very competitve quote on a secured loan to fit your needs. As mentioned earlier, we have the resources to rapidly search from amongst top loan sources in the United Kingdom to select the best loan sources for your individual situation. And because we get paid from the lenders, it won't cost a penny more to you for using our servvice. So if you were thinkng of going with portland buiilding society to get a secured loan, take a quick minute and fill out our form to see what other awesome options are there for you.