Unsecured Loan FAQs
How much can I borrow?
Loans are available from £500 to £1,500, subject to status.
How long can I take the loan over?
Dependant on which product you qualify for your loans can be repaid over a period of 6 months to 2 years.
How do I make payments?
Payment’s have to be made by direct debit from your bank account. The Evolution Current Account could meet your needs perfectly.
How will I receive the money?
The loan advance will be paid in to your bank account.
When will the first repayment be due?
Payments are normally due one month after your loan completes. We understand that certain times of the month may be more convenient for you – for example just after your payday – so we can be flexible with this payment date.
What if I change my mind after I have signed?
You may cancel the Agreement within 14 days of the date that you sign it. Please contact us on 0161 656 9874 or write to Evolution Money, Lloyds House, 18-22 Lloyd Street, Manchester, M2 5BE. If you would like to cancel the Agreement you will have to repay any money lent to you plus interest accrued to the date of settlement.
Can I settle my loan early?
Yes you may; the Agreement will detail how your early settlement calculation will be made. You should be aware that if you repay your loan early, the amount you will repay may be greater than the amount you originally borrowed; particularly if you repay any guarantor loan early in its life.
Will there be a fee?
We charge an acceptance fee if you decide to go ahead with the loan. The good news is this is built in to your monthly loan repayment, we won’t ask you to make any payments upfront and should you decide not to take the loan there are no fees to pay.
What happens if I don’t keep up repayments to the loan?
It is important that all payments are made on time as agreed to ensure that additional fees are not added to your account. If you experience problems or anticipate problems making payments you should contact us immediately and we will do our best to help you. If you continue to miss payments and we are unable to resolve the situation satisfactorily as a last resort we will instruct our solicitors to commence proceedings against you.
