Why Get a Secured Loan?

If you want to borrow money based on the equity in your home, please do some shopping around first. You searched for welcome tinance, but by filling out our form you can see what other options you may have.

Many people need access to funds for various needs and wants. If you own your own home, you will in most cases be able to obtain funds up to the value of your home from a secured lender like Welcome Finance.

There are many reasons why one would seek a secured loan rather than a remortgage. For one thing, if one's credit profile has worsened since obtaining their original mortgage, the best interest rate they will now be able to get will surely be higher than the original mortgage, and the new higher rate will apply to the total loan balance. Likewise, if interest rates in general have gone up, one would not want to abandon the lower rate of interest he has on his mortgage. Therefore, if he needs an extra 20,000 to have a swimming pool installed, he won't part with that original rate. He can get a secured home owner loan for merely the sum he needs, and possibly even pay it early.

Besides, even if remortgages are in the main at lower rates than second charge loans, you can find some lenders in the UK that can offer very attractive mortgage 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 money lender that will meet your particular needs. For example, there are corporations that specialize in bad credit homeowner loans. And other sources that feature special low rate deals for those with a high credit score. Also, there are some secured homeowner loan merchants that are more favorable to lower loan amounts than other companies.

Another benefit of getting a secured home owner loan is speed. How rapidly can you get your funds with a secured loan? Well, in the United Kingdom, for loan companies like Welcome Finance, loans under 25000 are regulated by the Consumer Credit Act. This means that there is a 2 week holdup before your funding can go through. However, loans for amounts greater than 25000 are not subject to regulation, and so it is feasable to get your loan rolling the very next day. This is much faster than a remortgage, where you will have to wait a lot longer before you get your cash.

Low Cost Funding can give you a quick quote on a secured loan to fit your needs. As mentioned earlier, our business model allows us to immediately search from amongst top home loan companies in great Britain to pick the best loan merchants for your specific needs. And because we get our commissions from the lenders, there are no additional costs to you for using our servvice. So if you wanted to check into using welcome tinance to get a secured loan, take a couple of minutes and fill out our form to see what other wonderful loan options are there for you.