Evolution Money are delighted to announce a new 3 year, £100m Senior debt facility with NatWest which secures the capital requirements for the business over the coming years.
This facility will allow Evolution to continue delivering its growth plans whilst capitalising upon exciting new product opportunities.
Commenting on the facility, CEO Steve Brilus said: “I am delighted that we are continuing our partnership with NatWest who have supported Evolution since 2013. This sizeable commitment reflects our strong working relationship with the NatWest team, their confidence in our business and a shared vision of the future opportunities that exist in our sector“
Matt Glew, Relationship Director of NatWest’s Large Corporate & Institutions business, added “We are very happy to have closed this new facility with Evolution, and are looking forward to continuing to work closely with Steve and the team as the business moves into the next stage in it’s journey. We have extensive experience in the 2nd charge mortgage sector and are excited to see Evolution grow with our support.”
Filip Skolnik, Structured Finance Director at NatWest, added “This commitment is a testament to the quality of the business that Steve and the Evolution team have built over the years, and we are pleased to have supported the business during it’s earlier years and having now structured a new financing solution that will enable progression to the next exciting growth stage.”
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.
