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How our secured loan process works

Secured Loans > Our Loans > How our loan process works

At Evolution Money we’re committed to being clear and upfront about everything. That’s why we wanted to give you a step-by-step guide to our loan process. Now you’ll know exactly what to expect from us.

1. Before you apply

Why not use our handy Loan Calculator? This will give you an idea of your monthly repayments, depending on the amount and the duration of your loan.

2. How to apply

Either call us and speak directly to one of our account managers, or you can request a callback through our online application form.

3. We talk to you

Your dedicated Personal Account Manager will be happy to talk through your financial situation and needs. Then they’ll give you a quotation that’s based on your current circumstances, not an automated credit score.

4. Complete an application

If you’re happy with your quotation, we’ll send you an application pack with the documents you need to complete your loan.

5. The consideration period

When you receive your Evolution Money application pack, you enter what is known as the consideration period. This begins with a 7-day period to review the documentation and the terms of the loan, with no contact from us.

Your application pack will contain documents that you will need to complete and return to us, the other documents are there just for you to review but, don’t worry, there is a guide in the pack showing exactly what you need to return.

Within the pack you will find an advance copy of your loan agreement, for your reference. During these 7 days we will not contact you, however, if you need to call us in this time period we’re always on hand to help.

6. What happens next

After the initial 7 days we will send you a copy of your signable credit agreement. Once we have sent this to you there is a further 7 day consideration period for you to review the details of the loan. Again, during these 7 days we will not contact you, but you can feel free contact us at any time.

If your circumstances haven’t changed in this total 14 day period, and you still want to go ahead with your loan, simply sign the loan agreement and return it to us. We will begin to process your loan as soon as we receive the returned agreement.

7. Receiving your money

Before your loan is paid out, we will call you to re-confirm the details and to organise your Direct Debit.

We will also make sure you are happy with everything and answer any other questions you may have before confirming when you will receive your Evolution Money loan.

Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

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.
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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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