Why choose a secured loan over an unsecured loan?

Deciding which type of loan is the best depends entirely on your own circumstances as neither of these loan options is the best choice every time.

Secured loans are usually secured against a property; these loans are more attractive to those who are finding it difficult to borrow the amount they need through an unsecured loan. Secured loans could be a more viable option for those who have poor credit, need more money or who want to borrow over a longer period of time. Unsecured loans are becoming harder to get, and are only really suitable to those with good credit ratings to ensure a lower interest rate.

Use the below comparison table as a guide only for differences between the two loan types:

If you are not a homeowner then a secured loan through Evolution Money would not be an available option for you. In which case, if you desire a loan then you will need to have a good credit rating to ensure that you are offered a favourable interest rate with an unsecured loan lender.

If a secured loan sounds like an option for you or to find out more about getting a secured loan through Evolution Money. If you would like to see how affordable a secured loan is why not try our handy loan calculator?

* Interest rates are usually determined by the loan amount, loan term and ability to repay. Unsecured loans typically carry a higher interest rates than secured loans as the lender will be wary that the loan being lent is not secured against any assets should you default on the loan.

What can a Home Improvement loan be used for?

Home improvements can scale from a complete demolition of walls and extreme renovation, to the smaller less demanding task of redecorating the spare bedroom. Whatever level of improvements you want to make around your home rest assured that a home improvement loan through Evolution Money can help.

Here are just some of the ways our home improvement loans have helped our customers:

New Bathroom

Improving the bathroom is one of the easiest ways to improve your home. Bathrooms can quickly look outdated and a major bathroom re-fit can cost into the thousands of pounds. Nevertheless, if you want to update the current look and feel then a new stylish bathroom suite could be found for as little as £400.

New Kitchen

The kitchen is the heart of the home and often plays an integral part in the valuation the house. So, whether you are looking to make large changes and invest in some new cupboard units, appliances and work surfaces or you just want to spruce the kitchen up with some new fancy taps, cupboard handles and plug sockets. A home improvement loan through Evolution Money can give you the help you need to get the work started.

Going green

If you’re interested in ‘going green’ and making savings on your water and energy bills then a home improvement loan could be right for you. Our loans are used for various sustainable initiatives – whether you’re wanting to install solar panels to your roof, double glazed windows or just looking for ways to conserve the water you use, Evolution Money can help.

Adding a Conservatory

Conservatories are well sought after as they can well extend your summer living into the winter months. Obviously not all houses can accommodate a conservatory, but those that can offer themselves a great opportunity to get the most from their homes. However be sure to shop around for quotes and design options before making your decision.

Converting the loft

Choosing to expand the home upwards with a loft conversion offers homeowners an extra bedroom for growing families and can be a great return on your investment in the long run. Not all homes can accommodate a loft conversion, but if you’ve got the space it can be a great way to add extra value to your home.

Open plan

For many people the idea of an open plan home offers living arrangements a sense of space and light. Obviously you’ll need to seek professional advice before you undertake a project of this magnitude and start knocking walls down.

Have a look at our home improvement infographic on other ways to add value to your home, make savings and even how it could make you money. With loans available from £1,000 to £20,000 getting a Home Improvement loan whatever your plans has never been more appealing. Why not see how affordable our loans are with our handy loan calculator.

How do you get a Home Improvement loan?

Loans being used for home improvements are becoming increasingly common, with many people choosing to improve the quality of life at home and add value to their property in the process. Have a look at our infographic on ways you can improve you home, add value and make savings in the process.

Getting a home improvement loan through Evolution Money couldn’t be easier

To find out if a home improvement loan through Evolution Money is right for you,  why not use our handy loan calculator to see just how affordable our loans are. Or pick up the phone and call 0800 781 4095 to talk to one of our friendly specialist loan advisors who can walk you through every step of the loan process. We will complete a review of your circumstances to ensure that you can make the repayments on the loan before we agree to lend you money for your home improvements.

If you want to know if you could get a loan through Evolution Money then have a look at our criteria.

Expert help

Here at Evolution Money loans are always personal. Our experience means we understand what you may have gone through, and the difficulties that can be faced when trying to obtain a new loan with a less than perfect credit history. You may be worried you have no options, yet we’re confident we can find you the loan you want where other companies can’t, whatever your circumstances.

We pride ourselves on providing excellent customer service – we believe you’re entitled to a clear and up-front loan application process, so that’s exactly what we’ll deliver. All of this is supported by our membership of the Consumer Credit Trade Association – which means we follow their Code of Practice to provide the very highest standards of service to all of our customers.

You can call us directly and talk to one of our Loan Specialists and with home improvement loans ranging from £1,000 to £20,000 there really could be a loan available to help you make those changes around the home.