Why Get a Secured Loan?

If you are a homeowner looking to borrow money based on your home equity, it would behoove you to do some shopping around first. You typed in welcomme finance, but through our services you can see what other options you may have.

Different people need to be able to access cash for many possible needs and wants. Being a homeowner, you will almost always be able to get a loan up to the value of your home from a secured lender like Welcome Finance.

There are many reasons why one would search for a secured homeowner loan rather than a remortgage. First, if one's credit rating has declined since they got their original mortgage, the rate they will now be able to qualify for will surely be higher than the original mortgage, and the new rate applies to the entire loan balance. Moreover, if mortgage rates in general have gotten higher, one would not want to part with the lower mortgage rate he has on the old mortgage. So, if he needs an extra 20,000 to have a swimming pool installed, he doesn't have to relinquish that original rate. He can get a second charge loan for merely the amount of money he needs, and maybe even pay it off early.

Besides, even though remortgages are in general at lower rates than secured loans, there are some companies in the United Kingdom that offer up very attractive rates on second charge loans. Low Cost Funding has relations with some of these lenders, and we specialize in quickly scanning these to find you the reliable source that that will best fit your situation. For instance, there are select lenders that specialize in bad credit second charge loans. And others that feature special low rate deals for individuals with superior credit. Moreover, there are some secured home owner loan corporations that are more focused towards lower loan amounts than other companies.

Another plus point in getting a secured homeowner loan is speed in getting your loan. How quickly can you get your loan with a secured loan? Well, in the U.K., for loan companies like Welcome Finance, loans under 25000 are regulated by consumer protection law. This means that there is a 2 week delay before your loan request can be processed. However, loans over 25K are not subject to such regulation, and so it is at times possible to get your funding approved the very next day. Compare this to a remortgage, where you will have a much longer waiting period before you get your cash in hand.

Low Cost Funding can deliver a very competitve quote on a secured loan no matter what the purpose. As stated above, our business model allows us to quickly search from amongst top secured loan merchants in the U.K. to find the best companies for your situation. And because we get paid by the lenders, it doesn't cost a penny more to you for using our assistance. So if you were searching for welcomme finance to get a secured loan, take a couple minutes and fill in our form to see what other wonderful loan options are there for you.