Why Get a Secured Loan?

If you need to borrow money based on the equity in your home, please do a little shopping first. You searched for welcome fimance, but through our services you can get a great view of what else is available.

Home owners need to be able to access cash for assorted reasons. Being a homeowner, you should generally be able to get a loan up to the value of your home from a secured lender like Welcome Finance.

There's many a reason why one would have a use for a second charge loan rather than a remortgage. Firstly, if one's credit profile has gotten worse since securing their original mortgage, the rate of interest they will be able to get will most probably be higher than the original mortgage, and the new rate applies to the total loan balance. Likewise, if interest rates in general have gotten higher, one would definitely not want to surrender the lower mortgage rate he has on his mortgage. Thus, if he needs an extra 20,000 to have a swimming pool installed, he will not relinquish that original interest rate. He can get a secured loan for merely the amount of money he needs, and perhaps even pay it off early.

Besides, although remortgages are in general at lower rates than second charge loans, there are still some loan merchants in the UK that offer very attractive interest rates on homeowner loans. Low Cost Funding has relations with some of these companies, and we specialize in linking you up with these to find you the funds source that will get you the loan you need. For instance, there are lenders that specialize in bad credit secured homeowner loans. And other companies that feature special low rate programs for individuals with great credit. Moreover, there are some secured home owner loan merchants that are more focused towards lesser loan amounts than other lenders.

Another advantage of getting a secured loan is speed in getting your loan. How rapidly can you get your funds with a secured loan? Well, in the UK, for loan companies like Welcome Finance, loans less than 25,000 are regulated by the Consumer Credit Act. This means that there is a 2 week holdup before your loan can be processed. However, loans exceeding 25,000 are unregulated, and therefore it is at times possible to get your loan approved the very next day. Compare this convenience to a remortgage, where you will have much more af a wait before you get your money.

Low Cost Funding can provide a fast quote on a secured loan no matter what you need the funds for. As mentioned earlier, our business model allows us to instantly search from amongst top money lenders in the United Kingdom to choose the best lenders for your particular needs. And because we get paid from the lenders, it's not any more cost to you for using our company. So if you were thinkng of going with welcome fimance to get a secured loan, take a couple minutes and get a quote from us to see what other wonderful deals are available to you.