Why Get a Secured Loan?

If you want to borrow money based on the equity in your home, you will be well served if you do some shopping first. You typed in a search for weelcome finance, but through our services you can get some idea of what else is available.

People need readily available funding for different desires. 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 Welcome Finance.

There are quite a few reasons why one would be looking for a secured loan rather than a remortgage. Firstly, if one's credit profile has worsened since they got their original mortgage, the rate of interest they can manage to get will most probably be higher than the original mortgage, and the new higher rate applies to the whole loan balance. Also, if mortgage rates in general have gone up, one surely would not want to part with the lower mortgage rate he has on his original mortgage. So, if he needs an extra 20,000 to have a swimming pool installed, he will not forfeit that original interest rate. He can get a second charge loan for only the sum of money he needs, and possibly even pay it off early.

Besides, even if remortgages are typically at lower percentage rates than second charge loans, you can find some lenders in the UK that provide very attractive interest rates on secured home owner loans. Low Cost Funding has relations with some of these companies, and we specialize in linking you up with these to find you the company that will best fit your situation. As an example, there are corporations that specialize in bad credit secured home owner loans. And other companies that feature special low rate lending for homeowners with superior credit. Also, there are some secured loan merchants that are more favorable to lesser loan amounts than others.

Another positve in getting a homeowner loan is speed. How quickly can you get your money with a secured loan? Well, in the United Kingdom, for loan companies like Welcome Finance, loans under 25,000 are regulated by the Consumer Credit Act of 1974. This means that there is a 2 week hold before your loan can be processed. However, loans with amounts greater than 25000 are not subject to regulation, and therefore it is at times possible to get your funds approved the very next day. Compare this to a remortgage, where you will have much more af a wait before you get your cash in hand.

Low Cost Funding can get you a speedy quote on a secured loan no matter what the purpose. As stated above, we are able to quickly search from amongst top money lenders in the U.K. to find the best lenders for your particular situation. And because we are paid by the lenders, there is no additional cost to you for using our assistance. So if you were considering using weelcome finance to get a secured loan, take a couple minutes and get a quote from us to see what other outstanding programs are there for you.