We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Evolution Money
Customer Enquiries 0161 814 9158
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue

Secured Lending FAQ

What is secured lending?

Secured Loans > Our Loans > Homeowner Loans > Secured Loan FAQ > What is secured lending?

Secured lending is a form of finance where you use an asset, such as property or a car, as security for the loan. If the loan is not repaid, you could lose the asset to the lender.

Secured lending is usually associated with mortgages or car finance.  For both, the loan is either secured on the property or on the car.

Due to the asset being used as security, a lender has greater guarantee of recouping the funds if a customer does not meet the repayments.

  • If you have a poor credit rating, a bad credit secured loan may be an option
  • An asset, such as property will act as security against the loan.  Failure to repay the loan may result in losing the asset
  • Secured lending may allow you to borrow larger amounts
  • Secured loans are also known as mortgages or homeowner

The difference between secured and unsecured lending is that you do not need to offer any asset as security with an unsecured personal loan.

As there is no asset offered as security, the interest rates could be higher for unsecured loans.

Failing to repay a secured loan could result in additional charges and will impact your credit rating. This may also result in repossession of your home or in some instances Bankruptcy.

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

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 96 out of 100, based on 178 reviews over the past year. 178 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoWe are a member of the FLA (Finance and Leasing Association) and subscribe to its lending code.

Socialise

Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Add us on Google+

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.

© 2020 Evolution Money | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

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

Award Winning

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

Back to Evolution