Why Get a Secured Loan?

If you want to borrow money based on your home equity, you should definitely do some comparison shopping first. You searched for welcome funance, but through our service you can get some idea of what else is available.

Individuals need to be able to access cash for different purposes. If you are a homeowner, you will almost always be able to obtain funds 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 homeowner loan rather than a remortgage. First off, if one's personal credit standing has deteriorated since securing their original mortgage, the rate they will now be able to get will most likely be higher than the original mortgage, and the new higher rate applies to the full balance. Also, if rates in general have risen, one would not want to abandon the lower interest rate he has on the original mortgage. Thus, if he needs an extra 20,000 to have a swimming pool installed, he won't part with that original rate of interest. He can get a second charge loan for merely the sum he needs, and possibly even pay the second charge loan off early.

Besides, even if remortgages are generally at lower interest rates than homeowner loans, you can find some lenders in the United Kingdom that can offer very attractive rates on second charge loans. Low Cost Funding has access to these companies, and we specialize in linking you up with these to find you the loan source that will match your needs. As an example, there are loan merchants that specialize in bad credit second charge loans. And other lenders that feature special low rate deals for home owners with a superior credit rating. Furthermore, there are some secured loan corporations that are more tailored to smaller loan amounts than other companies.

Another positve in getting a secured home owner loan is speed in getting your money. How fast can you get your money with a secured loan? Well, in the UK, for loan companies like Welcome Finance, loans for amounts less than 25K are regulated by the Consumer Credit Act of 1974. This means that there is a 2 week waiting period before your loan can be processed. However, loans more than 25000 are not subject to regulation, and thus it is conceivable to get your funds approved the very next day. This is much faster than a remortgage, where you will have to wait a lot longer before you get your funding.

Low Cost Funding can provide you with a speedy quote on a secured loan to match your circumstances. To reiterate, our business model allows us to immediately search from amongst top loan sources in the UK to get you the best companies for your specific needs. And because we are paid by the lenders, it's not a penny more to you for using us. So if you were thinking about using welcome funance to get a secured loan, take a quick minute and get a quote from us to see what other awesome programs are available.