Customer Enquiries 0161 814 9158
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue

We specialise in secured loans for any purpose

Evolution Money Secured Loans

What are secured loans?

A secured loan uses collateral, such as your home, in order to offer a way of borrowing a large sum of money, all while using your home as equity. When looking to borrow between the ranges of £1,000 and up to £20,000, secured loans tend to be a reliable personal finance option.

Secured loans are also referred to as ‘homeowner loans’ or ‘second-charge loans’, as this type of loan is a second loan against your property, after your mortgage.

A secured loan can be a good borrowing option because it is based on assets that you have and not on your personal credit history. Bank loans are still quite hard to get for many people, especially if they have had issues with their credit in the past. The lending criteria for high street banks are usually stricter than they are with other lenders and you almost need a perfect credit history to get a bank loan these days.

If you are a homeowner, and your credit rating has suffered recently, secured lending may be the best choice for you to obtain the amount of money you need.

If you’re looking to obtain credit, our secured loans can be used for a range of purposes:

  • Consolidation of existing debts, which could save you money by reducing the amount you are paying
  • Turning multiple debt payments with different lenders into one manageable monthly payment
  • To carry out home improvements, which is a great way to invest back into your property
  • Bigger personal items such as cars can be financed using a secured loan
  • Allowing you to take your family on that much needed holiday

We’ve put together some frequently asked questions, to help you make an informed decision before choosing to take out a secured loan.

How do secured loans differ from unsecured loans?

Secured loans are loans that are backed by an asset. Your property is collateral for the loan. If you fail to maintain your monthly payments, your home may be at risk.

Therefore lenders will often accept an application for a secured loan where they would decline an application for a personal loan. Plus, lenders can be more flexible with secured loans, which can be available to people whether employed or self-employed.

Lenders do report late payments and loan default to the credit bureaux with both secured loans and unsecured loans.

Qualifying for a secured loan?

In order to apply for a secured loan through Evolution Money you must fit our criteria:

  • Aged 18-68
  • A homeowner occupier
  • Live in the UK
  • Be able to afford the repayments comfortably from normal income

Applying for a secured loan?

We are dedicated to being open and honest about the procedure for getting a secured loan through us. Therefore we have put together a guide which outlines our loan process to help you understand every aspect.

How much can I borrow with a secured loan?

Secured loans through Evolution Money are available for people who are looking to borrow up to £20,000.

How long is the repayment term?

The amount borrowed can be customised to whatever suits you best. Evolution Money offers secured loan repayments up to 180 months (15 years). Which means as the loan can be repaid over a longer period, we could even offer a lower affordable monthly repayment amount.

Is there a higher interest rate with a secured loan?

Secured loan interest rates are usually comparably lower than those of an unsecured loan. This is because secured loans can be taken out over a longer period of time. The amount of borrowing and the term length influences the interest rate.

Are there any fees to pay?

We are committed to telling our customers about our secured loan fees. There is a Lending Fee (£499.00 on a £6,000 secured loan example) and a Product Fee (£600 on a £6,000 secured loan example) which are added to the total amount repayable by you over the duration of the secured loan term. We have split up the fee details and specified them in a chart, which you can see here.

Is secured borrowing and secured loans bad for my credit rating?

Choosing a secured loan is a good option for people who have had problems in obtaining other types of loans because their credit score is less than perfect. As the lender is lowering their risk because the property is offered as security – a secured loan can be easier to obtain.
In addition, continuing with your ongoing repayments could actually help to improve your credit rating in time.

Can the loan be paid off earlier than agreed?

Yes! We allow our customers to overpay and make a lump sum payment. This can reduce the period of the secured loan amount and interest repaid on the loan, ultimately saving you more money.
Apply for a Secured Loan

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

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 90 out of 100, based on 112 reviews over the past year. 112 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoThe Finance & Leasing Association is the leading trade body for the motor finance, asset finance and consumer credit industries in the UK.


Feeling social? Check out our social pages!

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

Our Address

Evolution Money,
9 Portland Street,
M1 3BE

Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

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.

© 2018 Evolution Money | Privacy Policy | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions
Apply Online
I want to borrow £

You will receive a call today to continue with your application.
Thank you for taking the time to fill in our online enquiry form. Unfortunately in this instance we won't be able to help as being a homeowner is one of our primary requirements.
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