Why Get a Secured Loan?

If you are a homeowner looking to borrow money based on home equity, please do a little shopping first. You typed in welcone finance, but by using our services you can see what other options you may have.

Home owners need available funding for varied reasons. If you own your own home, you should generally be able to get funding up to the value of your home from a secured lender like Welcome Finance.

There are quite a few reasons why one would seek out a homeowner loan rather than a remortgage. Firstly, if one's credit standing has gotten worse since they obtained their original mortgage, the interest rate they will be able to get will likely be higher than the original mortgage, and this higher rate will apply to the full loan. Also, if mortgage rates in general have gone up, one certainly wouldn't want to lose the lower rate he has on the original mortgage. So, if he needs an extra 20,000 to have a swimming pool installed, he won't relinquish that original interest rate. He can get a secured loan for merely the quantity he needs, and possibly even pay the second charge loan off early.

Besides, although remortgages are usually at lower rates than secured homeowner loans, ther are in fact some select lenders in the United Kingdom that extend very attractive mortgage rates on secured loans. Low Cost Funding has access to these loan merchants, and we specialize in rapidly shopping these to find you the lender that will get you the loan you need. As an example, there are lenders that specialize in bad credit secured loans. And other sources that feature special low rate loans for home owners with excellent credit. Moreover, there are some second charge loan companies that are more tailored to lesser loan amounts than other sources.

Another plus point in getting a secured home owner loan is speed of service. How quickly can you get your money with a secured loan? Well, in the United Kingdom, for loan companies like Welcome Finance, loans smaller than 25000 are regulated by a law designed to protect consumers. This means that there is a 2 week holdup before your loan can go through. However, loans greater than 25,000 are unregulated, and as as result it is sometimes possible to get your loan approved the very next day. This can be light years faster than a remortgage, where you will have a much longer time to wait before you get your funds.

Low Cost Funding can get you a personalized quote on a secured loan to fit your needs. As mentioned earlier, our business model allows us to quickly search from amongst top home loan companies in the UK to get you the best loan merchants for your individual situation. And because we get our commissions from the lenders, there's no extra cost to you for using us. So if you were thinking about using welcone finance to get a secured loan, take a few minutes and get a low cost quote to see what other awesome options are available to you.