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How Long Does It Take To Get Approved For A Loan FAQ

How Long Does It Take To Get Approved For A Loan?

Secured Loans > Our Loans > Bad Credit > How long does it take to get approved for a loan

How long it takes to get approved for a loan can vary by lender and loan type. Unsecured loans may be approved in days; approval for a loan secured against an asset like your house could take several weeks.

Unsecured loans from high street providers are sometimes processed within hours or minutes. Approval for some types of loan – such as mortgages or secured loans – may take longer.

During this time, the lender will run checks to ensure the information provided is correct. As well as verifying address details and carrying out fraud checks, the lender needs to assess the level of risk involved in approving a loan application. They also need to check you can afford the loan.

 

• Lenders will assess your income and expenditure to ensure you can afford the loan
• Some lenders may approve a loan in a matter of minutes; other lenders may take a few weeks, depending on the type of loan
• Secured loans involve more paperwork and stringent checks – approval may take a few weeks

You can improve your chances of approval by checking the lenders lending criteria and ensuring you meet it before submitting a loan application. Depending on the type of loan, you might need to be within a certain age range, and/or own an asset (like your own home).

Submitting an application online can be quicker than completing a form by post – make sure you have all your documentation to hand, such as identification and details of income and expenditure, to avoid any delays.

Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

How our customers rate us

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Evolution Money 96 out of 100, based on 178 reviews over the past year. 178 user reviews. Read our reviews

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Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

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Fair Processing Notice

Who we are:

Evolution Money Ltd, Progressive Money Ltd and Evolution Lending Ltd are all wholly owned subsidiaries of Darwin Loan Solutions ('the Group').

We take your privacy seriously and will only use your personal information to

A) Discuss loan offers and provide you with the products and services you have requested.
B) If you take out a loan with us and become our customer, it will also be used to manage your loan.

We'll keep your details for up to 12 months to enable us to help you with your loan application. If you don't take out a loan with us, we will delete your enquiry details unless regulations say we must keep them for longer.

This won't change any marketing preferences you've already chosen.

How we control and process your data:

Our companies hold and process your personal data in accordance with Data Protection law in the UK. We are committed to maintaining the privacy and protection of all personal data collected in connection with our broker and loan services. We may share your information with credit reference agencies and other companies for use in credit decisions, for fraud prevention and for debt collection purposes.

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Marketing Contact preferences - putting you in control:

We would love to tell you from time to time about offers and special deals on loans, insurance products and utility services which may save you money.

If you're happy to be contacted about these, please click the boxes to tell us how you want us to get in touch with you.

You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

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Marketing Contact preferences - Our partners:

We would love to tell you from time to time about special offers and deals from our carefully selected partners.

If you're happy to be contacted by them please click the boxes to tell us how our partners can get in touch with you.

You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

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Please read the full details of our Fair Processing Notice including Credit Reference Agency Information Notice (CRAIN) Click here to see a copy of the CRAIN.

If you agree to our Fair Processing Notice and want to continue to the next stage - click Agree.

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Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

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Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

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