Secured £20,000 Loans
A secured £20,000 loan could help you in a variety of circumstances. You could use it to consolidate your debts or to undergo renovations that increase the value of your home. A secured loan from Evolution Money could help you to get the funds that you need to achieve your long-term financial goals.
We may consider you for a £20,000 loan even if you have a poor credit score linked to county court judgements (CCJs), defaults or late payments, or even if you’re currently on a Debt Management Plan. Our qualified mortgage advisors will speak to you and discuss your current personal circumstances to help to find a solution.
After a few easy steps, you can get a free, no-obligation quote for your £20,000 loan. Simply complete our simple online form or contact us directly.
For added reassurance, you can read what others have said about the loans we offer by checking out our reviews.
What our customers say
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The service was quick, straight forward and helpful. The customer liaison was friendly and professional.
Friendly & polite staff. Helpful & consistent, willing to help find a solution to meeting my needs.
Very simple process and very quick from application to getting money 4/5 days brilliant
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Apply for a secured £20,000 loan
Since 2011 we have helped thousands of customers to find a suitable loan, whether that’s a £20,000 loan or a £100,000 loan. The length of your application will depend on your circumstances and in most cases we won’t need to visit your home as we focus on online valuation, however we do sometimes do drive-by valuations.
There also might be no need to contact your mortgage company, and on top of that there are absolutely no hidden fees or charges. Speak to our qualified mortgage advisor for a no-obligation quote today.
What is a secured loan?
Also known as homeowner loans or second-charge mortgages, secured loans allow you to borrow money and use your home as ‘collateral’ or ‘security’. As a result, only homeowners are eligible for a secured £20,000 loan with us. However this also means that if you are unable to make payments in line with the conditions of your loan, the lender could repossess your property.
We will agree the repayment terms with you prior to taking out a secured loan which will include the monthly repayments, interest rates and term.
If you're looking to obtain credit, our secured loans can be used for a range of purposes
Carry out home improvements; a great way to invest back into your property 
Bigger personal items such as cars can be financed using a secured loan 
Even if you have bad credit we could still help you with a loan Why choose Evolution Money for a secured £20,000 loan?
At Evolution Money, we work on a case-by-case basis so that we can match you with the right loan for your financial circumstances. Our approach means we’ve been able to help thousands of people by pairing them with a loan that works for them.
Here are a few reasons why you can have confidence in us when applying for a £20,000 loan with Evolution Money:
- We’ve lent to over 31,000 customers with tailored repayment terms, which you can see for yourself by looking at some of our loan case studies.
- We provide you with a thorough breakdown of our loans up front, so you won’t need to worry about hidden fees.
- We have thousands of positive reviews from past customers, which has earned us an excellent Feefo rating, as well as the Platinum Trust Service Award 2022
- We’re regulated by the Financial Conduct Authority and, as a member of the Finance and Leasing Association, we follow the Lending Code.
- Alongside our mission of providing clarity, we’re committed to assessing your personal situation, without penalising you solely for your credit score and while providing support during your application.
Apply for a secured £20,000 loan today
To get the ball rolling, don’t hesitate to call us on 0161 814 9158. This way, you can get a no-obligation quote from one of our qualified mortgage advisors over the phone to see what your repayments might look like on a £20,000 loan with Evolution Money.
Questions you may have about our secured £20,000 loans
We’ve compiled a number of frequently asked questions about our secured £20,000 loans so that you feel well-informed before making your decision about whether it could be right for you.
We’ve compiled a number of frequently asked questions about our secured £20,000 loans so that you feel well-informed before making your decision about whether it could be right for you.
What can a £20,000 loan be used for?
A secured £20,000 loan through Evolution Money can be used for almost any purpose. Here are the most common reasons why people choose to apply:
- Home improvements: A house is likely your greatest financial asset, so it makes sense to try to boost its value in any way possible. A £20,000 loan can make a world of difference for people looking to invest in home improvements, giving them the funds that they need to afford a new kitchen, extension, conservatory or simply overdue renovations and maintenance.
- New car or motorbike: Whether it’s out of necessity or time for an upgrade, a £20,000 loan can go a long way towards buying the car or motorbike on which you have your heart set. Our advisors are here to help to weigh up your options and ensure that the terms of repayment are within your monthly budget.
How long is the repayment period on a secured £20,000 loan?
There is a range of repayment options when applying for a £20,000 loan through Evolution Money. The amount of interest that you will pay on the loan depends on which timeframe you choose. Shorter repayment periods generally offer a smaller total repayable amount.
Our shortest repayment period is 36 months, while our longest is 240 months, so we can look at a range of repayment terms to find the one that suits your personal and financial situation.
Am I eligible for a secured £20,000 loan?
To qualify for a secured £20,000 loan, you’ll need to meet the initial criteria, which involves:
- Being a homeowner
- Being aged between 21-70* years
- Living in the UK
- Being able to afford the repayments comfortably from your income
*Loan must be paid back by 70th birthday.
How do I apply for a secured £20,000 loan with Evolution Money?
Applying for a secured £20,000 loan with Evolution Money couldn’t be simpler. It’s a case of filling in our online form or getting in touch with our team of experts directly by emailing [email protected] or calling 0161 814 9158.
You can find out more about how to apply for a £20k loan with us online. We recommend reading our application details so that you’re fully informed before making your decision.
How long will it take to get my £20,000 loan?
The application process can vary depending on your circumstances. The process typically takes 2 weeks.
Can I get a secured £20,000 loan if I have bad credit?
Most loan providers will base their decisions solely on your credit score, which can be very limiting for someone wanting to apply for a £20k loan. At Evolution Money, we understand that your credit score might not be representative of your current financial situation.
We take all of our applications on a case-by-case basis. All we ask is that you are as detailed as possible in your application so that we can match you with the best loan for your situation.
You may want to look at our poor- or bad-credit loan details if you feel that this applies to you.
How do I know whether I can afford a £20,000 loan?
At Evolution Money, we are aware of our responsibility as financial service providers. This means that we want to be sure that customers applying for one of our loans can afford their loan now and throughout the loan term.
That’s why we require a detailed Income and Expenditure Assessment to be discussed with every application that we receive. This looks at details such as the money coming in and out of your account each month.
The accuracy of the advice that you receive will depend on how honest you are in your loan application. We want to make sure that we advise you on the best loan for your circumstances.
What documents do I need to provide for a secured £20,000 loan?
As part of our affordability assessment, we will need the following information and documents from you:
- Three pay slips if paid monthly, four payslips if paid weekly or fortnightly.
- Bank statements.
- If self-employed, we’ll need an SA302 form or Certified Accountants Certificate.
We will also need the following details which will be highlighted in your Income and Expenditure assessment. This will document all of the money coming in and out every month, plus payments being made, including:
- Contractual payments like mortgages, loans and services.
- Regular payments for food, clothes, travel, leisure and more.
What other loans do you have available?
Will getting a quote for a £20,000 loan affect my credit score?
No, getting a quote will not impact your credit score.
Representative 17.46% APRC (Variable)
For a typical loan of £23,120 over 120 months with a variable interest rate of 17.46% per annum, your monthly repayments would be £442.07. This includes a Product Fee of £2,312.00 (10% of the loan amount) and a Lending Fee* of £763.00, bringing the total repayable amount to £53,047.80. Annual Interest Rates range between 8.6% to 27.87% (variable). Maximum 50.00% APRC. *Lending Fee varies by country: England & Wales £763, Scotland £1,051, Northern Ireland: £1,736.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
