As Evolution Money are responsible financial service providers, it’s important to us to be sure that customers applying for second charge borrowing are able to afford their loan now and throughout the loan term.
To facilitate this, a loan application will require a detailed Income and Expenditure Assessment to be discussed. This will include information about
To help you collate this information, you can download our comprehensive Income and Expenditure form here or fill in online: www.evolutionmoney.co.uk/help-and-advice/income-and-expenditure
When making an application, one of our professionally trained Underwriters will go through the information with you. So before speaking to one of our team, it’s recommended for you have this form in front of you (either printed or online) and this will assist the smooth progress of the loan application
Please remember, you need to be as honest and as accurate as possible, so that we can advise you on the most affordable loan which suits you and your circumstances.
If we are unable to carry out the affordability assessment because you have chosen not to provide the required information;
A credit search will be carried out so that we can clarify all the information provided. You can find more information on credit searches here www.evolutionmoney.co.uk/legal/privacy-policy
As part of the application process, we will also ask you to provide copies of your bank statements and wage slips or Self-employed account documents as evidence to confirm what is discussed together;
We hope that our Income and Expenditure form helps you record the financial information you need for the affordability assessment, and for your Evolution Money loan application.
PLEASE THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON 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 PAY