Real stories and real people
Meet Diane
Our second story
Meet Diane.
Diane had been looking forward to a new kitchen ever since she and her family had bought and moved into their new home.
They say the kitchen is the heart of every home. Not only is it the room where families come together to cook and eat, it’s also a space to share news, socialise and catch up on the events of each day. Investing in a kitchen can also be a good way to add value to a property.
Despite opening a savings account at her local bank, Diane often found herself dipping into the kitchen nest egg to help cover the cost of bills, mortgage payments and food shopping. It always seemed like there was another payment lurking around the corner.
Spare cash was increasingly hard to come by and, as you can imagine, Diane’s dream of a new kitchen was soon placed firmly on the back burner.
It wasn’t until two of the oven hobs stopped working altogether that she began to consider the improvement as less of a luxury, and more of a necessity.
That’s when Diane approached Evolution Money.
She was looking for a home improvement loan at an affordable rate, with minimal APR added, that she could pay off in her own time.
Having applied for a £3,000 secured loan online, one of our expert loan advisors gave Diane a call to talk through the options available to her. She decided that the high rate of interest on a shorter-term personal loan was too costly for her budget, and that a secured loan would allow her more time to repay the amount borrowed.
Diane and her family had no intention of moving in the near future, and so they could get good use out of their new kitchen whilst also boosting the overall value of the property. We were able to provide her with her ideal £3,000 home improvement loan, both at a rate and time frame that were suitable for Diane.
Representative 22.93% APRC variable.
For a typical loan of £26,600 over 180 months with a variable interest rate of 19.56% per annum, your monthly repayments would be £484.00. This includes a Product Fee of £2,660.00 (10% of the loan amount) and a Lending Fee* of £763.00, bringing the total repayable amount to £87,030.00. Annual Interest Rates range between 11.7% to 46.5% (variable). Maximum 50.00% APRC. *Lending Fee varies by country: England & Wales £763, Scotland £1,051, Northern Ireland: £1,736.
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.
