See how Evolution Money does things differently
How our secured loan process works
At Evolution Money we’re committed to being clear and upfront about everything. That’s why we wanted to give you a step-by-step guide to our loan process. Now you’ll know exactly what to expect from us.
1. Before you apply
Request your no-obligation quote from Evolution Money today to see exactly where you stand.
2. How to apply
Either give one of our friendly advisors a quick call on 0161 814 9158 or request a callback through our online application form.
3. We talk to you
Your dedicated advisor will be happy to talk through your financial situation and needs. Then they’ll give you a quotation that’s based on your current circumstances, not an automated credit score.
4. Complete an application
If you’re happy with your quotation, we’ll send you an application pack with the documents you need to complete your loan.
5. The consideration period
When you receive your Evolution Money application pack, you enter what is known as the consideration period. This begins with a 7-day period to review the documentation and the terms of the loan.
Your application pack will contain documents that you will need to complete and return to us, the other documents are there just for you to review but, don’t worry, there is a guide in the pack showing exactly what you need to return.
Within the pack you will find an advance copy of your loan agreement, for your reference.
6. What happens next
After the initial 7 days we will send you a copy of your signable credit agreement. Once we have sent this to you there is a further 7 day consideration period for you to review the details of the loan.
If your circumstances haven’t changed in this total 14 day period, and you still want to go ahead with your loan, simply sign the loan agreement and return it to us. We will begin to process your loan as soon as we receive the returned agreement.
7. Receiving your money
Before your loan is paid out, we will call you to re-confirm the details and to organise your Direct Debit.
We will also make sure you are happy with everything and answer any other questions you may have before confirming when you will receive your Evolution Money loan.
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.
