Why Get a Secured Loan?

If you want to borrow money based on your home equity, you will be well served if you do some shopping first. You searched for welcpme finance, but by filling out our form you can get a great view of what else is available.

Individuals need readily available funding for diverse needs and wants. If you are a home owner, you will almost always be able to get funds up to the value of your home from a secured lender like Welcome Finance.

There can be many reasons why one would seek a second charge loan rather than a remortgage. First, if one's credit standing has declined since obtaining their original mortgage, the best interest rate they will now be able to qualify for will surely be higher than the original mortgage, and this will apply to the entire loan balance. Furthermore, if interest rates in general have gotten higher, one would not want to abandon the lower mortgage rate he has on the old mortgage. Therefore, if he needs an extra 20,000 to have a swimming pool installed, he will not lose that original mortgage rate. He can get a second charge loan for simply the amount he needs, and perhaps even pay the second charge loan off early.

Besides, even though remortgages are generally at lower percentage rates than secured home owner loans, there are still some companies in the UK that provide very attractive mortgage rates on homeowner loans. Low Cost Funding has relations with these loan merchants, and we specialize in rapidly shopping these to find you the loan merchant that will get you the loan for your situation. For example, there are lenders that specialize in bad credit secured homeowner loans. And other companies that feature special low rate lending for those with an excellent credit rating. Also, there are some secured loan merchants that are more favorable to lower loan amounts than other sources.

Another benefit of getting a second charge loan is speed in getting your money. How fast can you get your loan with a secured loan? Well, in the United Kingdom, for loan companies like Welcome Finance, loans for amounts less than 25,000 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 for amounts exceeding 25000 are not regulated, and hence it is at times possible to get your money approved the very next day. This compares very favorably to a remortgage, where you will have a much longer waiting period before you get your loan.

Low Cost Funding can deliver a quick quote on a secured loan for whatever purpose youhave. As mentioned above, we can instantly search from amongst top money lenders in the U.K. to select the best sources for your individual needs. And because we get paid from the lenders, it doesn't cost a penny more to you for using our assistance. So if you wanted to check out welcpme finance to get a secured loan, take a couple of minutes and get a quote from us to see what other great loan options are out there.