Secured loans and your financial safety
Are Secured Loans Safe?
Before you commit to any type of loan, it is important that you understand the terms and conditions for borrowing. With all secured loans, there is the risk of your property being repossessed and sold to cover your debt if you are unable to repay your loan.
However, as long as you are able to keep up and make your repayments, you are in no danger of losing your home. Secured loans can even be a way to improve your credit score if you make your agreed repayments on time and in full.
How to pay off a secured loan consistently
Before applying for a secured loan, you should make sure that you are able to make the regular repayments through your regular income. As part of the application process, your lender will carry out an affordability check and ask you to provide information regarding your income and expenditure.
If you are finding it difficult to keep up with your secured loan repayments, do not hesitate to contact us. Our team will do everything they can to help you and understand any change in circumstances.
Our Customer Service Commitments at Evolution Money
At Evolution Money, we do everything we can to ensure our secured loans are an appropriate borrowing option for our customers.
We pride ourselves on our personal and professional service. Each member of our team of qualified secured loan advisors are available to provide you with clear and honest advice regarding your loan application and will work with you every step of the journey to find a secured loan that suits your circumstances.
The Evolution Money team place trust and integrity at the forefront of everything we do.
Our advisors are available to answer any customer enquiries on 0161 814 9158, responding quickly to any concerns and ensuring that our customers are not misled.
We are also members of The Finance and Leasing Association and subscribe to its official lending code.
How Customers rate our Secured Loans Process
With over 24,000 customers accepted since 2011, Evolution Money and our other Darwin Group of Companies strive to say ‘yes’ to our applicants despite their credit score and instead assess their unique financial situation.
We are proud of our customer service, and in 2020, we were awarded the Platinum Trusted Service Award from independent customer feedback provider Feefo scoring 96 out 0f 100, based on 178 user reviews.
For a typical loan of £30,000.00 over 120 months with a variable interest rate of 19.56% per annum, your monthly repayments would be £598.34.
Including a Product Fee of £2,400.00 (8% of the loan amount) and a Lending Fee of £807.00, the total amount repayable is £71,800.20.
Annual Interest Rates ranging from 11.88% to 29.38% (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 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.
