Lender Profile
Evolution Money Secured Loans
UK specialist lender for borrowers with significant adverse credit history.
Starting rate
12.9% APR
Max LTV
95%
Loan range
£5,000–£50,000
About Evolution Money
Evolution Money is a UK specialist secured loan lender focused on the heavy-adverse credit segment of the market. Their Plan 8 product accepts adverse credit cases — including recent CCJs, defaults, IVAs, and active arrears — at a variable rate of 12.90%.
Evolution's positioning is essential to the UK secured loan market: they support borrowers who have been declined by mainstream lenders and even by other specialists. Most cases on their panel involve significant credit history that sits outside standard underwriting tolerance elsewhere.
The trade-off is rate. At 12.90% variable, Evolution products cost meaningfully more than mainstream secured loans. For borrowers with no other options, the alternative is often unsecured credit at 30%+ APR or no funding at all — making Evolution still the cheapest route for many adverse-credit cases.
Product range: Plan 8 variable-rate secured loan for borrowers with significant adverse credit. No early repayment charges, no arrangement fee.
Best for
- Borrowers with recent CCJs, defaults, or active arrears
- Cases declined by mainstream and minor-adverse specialist lenders
- Borrowers needing to consolidate problematic unsecured debt
- Smaller loans up to £50,000 where rate gap matters less in absolute terms
Key facts
- Min Loan
- £5,000
- Max Loan
- £50,000
- Max Term
- 20 years
- Max Ltv
- 95% combined
- Fee
- £0 arrangement fee
- Credit Tier
- Adverse credit accepted
- Rate Structure
- Variable rate (12.90% currently)
- Completion
- Typically 3–4 weeks
- Property Eligibility
- Standard UK residential property in the applicant's name. Combined LTV up to 95% — one of the highest LTV caps in the UK secured loan market. Adverse credit history accepted including recent CCJs, defaults, and active arrears.
Pros
- +Accepts borrowers declined elsewhere
- +No arrangement fee
- +Up to 95% combined LTV — highest on our panel
- +No early repayment charges — repay any time without penalty
Cons
- −Variable rate at 12.90% — significantly higher than mainstream products
- −Maximum loan £50,000 — not suitable for larger borrowing needs
- −Variable rate exposes borrowers to rate increases over the term
Evolution Money FAQs
What rates does Evolution Money offer on secured loans?
Evolution Money's Plan 8 product is currently priced at 12.90% variable APR. This is materially higher than mainstream secured loan products because Evolution lends to borrowers with significant adverse credit who are typically declined elsewhere. For context, the alternative for borrowers in this segment is often unsecured credit at 30%+ APR or no funding at all.
What is a representative example for an Evolution Money secured loan?
Representative example for a £20,000 secured loan over 120 months at 12.90% APR variable: monthly repayment £297.43, total loan repayments £35,691.60, Evolution Money arrangement fee £0, Charles Frank Finance broker fee £2,000 (10% of net loan amount as the loan is under £25,000). Total amount payable £37,691.60. Total charge for credit (interest plus fees) £17,691.60. Representative APRC 14.5%. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
What property eligibility does Evolution Money require?
Standard UK residential property in the applicant's name with a current first charge mortgage. Combined LTV can extend up to 95% — the highest LTV cap on our panel. Adverse credit history is accepted including recent CCJs, defaults, and active arrears. A property valuation is required.
Will Evolution Money accept me with a recent CCJ?
Yes — Evolution specifically supports borrowers with adverse credit including recent CCJs, defaults, and IVAs. They underwrite case-by-case considering severity, recency, and overall affordability.
Why is Evolution's rate so much higher than other lenders?
Evolution lends to borrowers other lenders decline. The higher rate reflects the higher risk profile of the borrower book. For borrowers with significant adverse credit, Evolution is often the cheapest option still available — alternatives are typically unsecured credit at 30%+ APR.
What's the maximum loan at Evolution Money?
£50,000. For larger amounts with adverse credit, alternative specialists like Together may be considered, though their rates are similar.
Does Evolution Money have early repayment charges?
No — Evolution products carry no ERCs. You can repay the loan in full or make capital reductions at any time without penalty.
Apply for a Evolution Money secured loan
We'll match your case against Evolution Money's criteria first — and the rest of our panel — to find the cheapest fit.