See exactly what your repayments go towards
Breaking down our Secured Loans for you
We believe in being open and honest about our loans. So we’ve broken down the Total Amount you repay for your loan so you can see what your repayments go towards – see below for a full breakdown of our Representative Loan Example:
| Loan Amount (i) | £30,000 |
| Loan Term (i) | 120 months |
| Monthly Repayments (i) | £598.34 |
| Interest Rate | 19.56% PA (variable) |
| APRC Representative Variable (i) | 23.06% |
| Total Amount Repayable (i) | £71,800.20 |
Interest APRC can vary dependent on various factors such as, loan amount, loan term, income, house value, credit check and other assets. Evolution Money is a responsible lending partner, therefore loans applied for through Evolution Money are subject to further checks and criteria being met by the applicant.
This example includes a Product fee of £2,400.00 (8% of the loan amount) and a Lending fee of £763.00.
PLEASE THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON 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.
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.
