When applying for any type of credit or finance, usually one of the main deciding factors as to whether you would be granted that is your credit score. There is an abundance of information on the internet all about credit scores and how they are worked out, and how much effect they actually have on people’s daily lives.
So what exactly is a credit score, and why is it so important?
When you apply for any kind of credit, most lenders will need some form of assurance that you are in a position to repay the money they have lent you, including any interest. To help them assess this, they collect information and calculate a credit score. Generally, the higher the score, the lower the risk it is for them to give you credit.
Evolution Money took it upon themselves to research and collate all the important pieces of information when it came to credit scores, and arranged them in a colourful and easy to read infographic.
About the Infographic
The infographic attempts to explain the journey of a credit rating, in terms of where credit scores come from, how they are used and by whom, and what needs to be kept in mind when discussing credit scores.
It also looks at what are the factors that have the most effect on credit ratings, and what are the potential ways that a credit score can be improved.
You can view the original Infographic here:
Evolution Money is thrilled to be appearing at the Financial Services Expo (FSE) in Glasgow on March 4th. It is the first time the FSE has been located north of the border and marks the increasing popularity and recognition within the Financial Services industry of the series of high-profile annual events.
Following Evolution Money’s recent Loan Talk Awards win for Best Adverse Secured Loan Product, the inaugural Glasgow event, held at the centrally located Hilton Hotel, kicks of the Expo season for Evolution Money. The award winning lender will also be appearing at the Manchester Expo to be held at The Emirates Old Trafford (20 May), and the London Expo which is taking place at Old Billingsgate later in the year (16th and 17th September).
Recognising a growing market in Scotland, Evolution Money have chosen the event to launch their range of new finance products and offers to business introducers.
These include: Homeowner Restricted Equity Loan, Homeowner Equity Loan, Unsecured Personal Loan for Homeowners and an innovative and unique Buy-To Let Loan product which will offer landlords the opportunity to release equity in their properties up to 90% (LTV)
Rhian Roberts: Head of Evolution Money’s Business Development Team commented:
“We are very much looking forward to showcasing our new ground-breaking range of customer-focused products and business introducer benefits at the inaugural Glasgow event. Having attending a number of FS Expos, they get bigger and better and have become a ‘not to be missed’ financial services industry event. Evolution Money are proud to be involved”
Come along to the Hilton Hotel on March 4th, meet the team and find out what opportunities exist as an introducer, referrer or partner. The team are looking forward to forging new working relationships and excited to highlight the benefits the wider financial referral network can gain from working alongside the increasingly successful brand.
Find out more about FSE Glasgow 2015 here: http://www.financialservicesexpo.co.uk/fse-glasgow/
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.
