Raising funds in a cost-effective way

Have you woken up with a bit of a financial hangover after all that festive spending and the Covid-19 problems?

Perhaps you have got plans for the year ahead and want a cash injection to fund things, or maybe you need a new car or home appliance to get the New Year off to a great start? Well, whatever your reasons for needing a loan, you can now snap one up for the cheapest ever rate.

There is a great choice of loans available these days but do be careful, a lot of the unsecured deals carry heavy interest rates. Secured lending (second charge) can be very cost effective indeed with record low interest rates currently on offer.

They are relatively easy to apply for and funds can be released much quicker than a traditional re-mortgage.

Lowest loan rate on record 2021

This is the lowest that secured loan rates have fallen, which will delight borrowers looking to consolidate their debts. It has come at a particularly difficult time of year for those who may be stressed over their finances and spending too much over Christmas – paying off an expensive overdraft or credit card should become a priority moving into the new year, so these low rates are likely to attract many consumers.

It is worth pointing out that these record-low rate second charge loans are unlikely to be around much longer as experts are predicting general rate rises all round. So if you are looking to raise funds it could be a good idea to act sooner rather than later.

Can we help?

If you are looking to raise funds and require help please do contact one of our independent advisers and they will be pleased to guide you.