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Evolution Money
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Applying for a long term loan is always a big decision that must be considered carefully beforehand.

Long Term Loans

Home > Our Loans > Long Term Loans

People seeking funds are advised to weigh up all their options before committing to the loan. This means doing homework on the forms of credit available to them, settling on a perfect loan amount and, ultimately, finding a lender that will serve your best interests at each stage of the application and repayment period.

At Evolution Money, we’ve been connecting thousands of people up and down the country with the loans they need since 2011. During that time we’ve helped lots of customers get a long term loan for many different reasons. Here are a handful of the most frequent:

Common reasons for long term loans

Business investment. Existing businesses often take out a long term business loan to help finance the present and future of their company. A secured loan can be used to invest in premises, resources, stock or any other plan for expansion.

Debt consolidation. More and more we hear from people who are looking to consolidate their existing debts into one monthly payment, yet have been refused for credit elsewhere. A long term secured loan is an option for those with bad credit as it allows applicants to use their assets as collateral for the loan while reducing the stress of managing multiple repayments with multiple lenders.

Home improvement. Our home is our biggest asset, so it’s no wonder that homeowners continually look for ways to add value to their property. Whether it’s an extension, loft conversion, conservatory or simply some overdue maintenance work, a long term home improvement loan can help people to fulfil their renovation needs sooner rather than later. Feel free to check out our handy infographic for more information.

What qualifies as a long term loan?

While the maximum repayment duration of a long term loan through Evolution Money is 15 years, a long term loan is generally considered to be any credit agreement with a repayment period that is longer than one year. Due to the level of financial commitment involved, many long term loans are secured against a person’s house, car or other available financial assets.

Repayments are generally made on a monthly instalment basis with any additional rate of interest calculated as part of the cost. However, customers have the right to settle their loan early. A long term loan is perhaps the better option for those who would otherwise borrow smaller amounts on a regular basis.

Looking to get an idea for the approximate cost and timescales of a long term loan? Take a look at our handy loan calculator to see what your repayments might be on a secured loan through Evolution Money.

Or, give us a quick call on 0161 814 9158 to talk through your options and get a no obligation quote from an Evolution Money personal account manager today.

Apply for a Long Term Loan
Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Evolution Money 90 out of 100, based on 112 reviews over the past year. 112 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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