Evolution Money

Yes. Evolution is specifically designed for borrowers who have been declined elsewhere due to adverse credit. The lender does not apply a minimum credit score and will consider applicants with CCJs, defaults, and other adverse markers. Up to 3 months of mortgage arrears can be accepted, provided the borrower is now up to date with current contractual repayments. The decision is based on current affordability and circumstances rather than a pass-fail threshold applied to the credit file.

The level of adverse credit does affect the rate offered. Borrowers with more severe or recent adverse events will typically face a higher interest rate than those with older, less substantial entries. Because Evolution's rates are variable and can be higher than other specialist lenders, it is particularly important for borrowers with significant adverse credit to compare the total cost of borrowing across all available options before committing. A broker can help with this comparison.

Evolution is one of very few secured lenders that will consider lending to borrowers with low or negative equity. This means the combined value of your existing mortgage and the new secured loan may exceed the current market value of your property. Most second charge lenders require a meaningful equity buffer before they will lend, so this is an unusual feature of Evolution's criteria.

Borrowing into negative equity carries significant risk. If you need to sell the property, the sale proceeds may not cover the total debt, leaving you liable for the shortfall. If property values fall, the gap between what you owe and what the property is worth widens. This does not mean the loan is automatically unsuitable, particularly if it enables you to consolidate higher-cost debts into a lower monthly payment that you can afford. But the risks must be understood before proceeding. A broker can help you assess whether borrowing at this level is the right approach or whether alternatives exist. The guide to understanding LTV ratios explains how equity position affects lending.

Evolution's secured loans carry two fees in addition to the interest rate. The product fee is 10% of the loan amount and is added to the loan balance, meaning you repay it with interest over the term. For example, on a £20,000 loan, the product fee would be £2,000, bringing the balance to £22,000 before any interest is applied. The lending fee covers legal and administrative costs and varies by jurisdiction: £763 for England and Wales, £1,051 for Scotland, and £1,736 for Northern Ireland.

These fees increase the total amount repayable and must be factored into any comparison with other lenders. A lower interest rate with a 10% product fee can cost more overall than a higher interest rate with no product fee, depending on the loan amount and term. Always compare the total amount repayable rather than the headline rate alone. The guide to secured loan fees explained covers how to compare costs across different lenders and fee structures.

Evolution's secured loans carry a variable interest rate. This means the rate can change during the life of the loan, and if it increases, your monthly repayment will increase with it. Evolution does not currently offer fixed-rate secured loan products. Other specialist lenders on a broker's panel may offer fixed rates, which provide payment certainty for a defined period.

Variable rates can move in either direction, but the risk is that they rise at a time when the borrower's budget is already tight. For borrowers on limited or fixed incomes such as benefits or pensions, a variable rate means there is no guarantee that the monthly repayment will remain at the level quoted at the outset. The guide to fixed vs variable rates for secured loans explains the trade-offs between the two structures.

Evolution Money Limited is a licensed credit broker (FCA reference 708324) and the service provider. Evolution Lending Limited is the FCA-authorised lender (FCA reference 709488) that provides the loan. Both are part of the Evolution Money Group and are based at the same address in Manchester. When you apply, your case is handled by an Evolution Money Personal Account Manager, and the lending decision is made by Evolution Lending.

If your application does not meet Evolution Lending's underwriting requirements, Evolution Money may pass your information to other lenders and brokers on its panel. This is stated in the company's own disclosures. It means that enquiring with Evolution Money does not guarantee that the loan, if offered, will come from Evolution Lending itself. A broker accessed through Squared Money can compare Evolution's products against other lenders before any application is submitted.

Yes. Debt consolidation is one of the most common purposes for Evolution Money's secured loans. Consolidating multiple debts, such as credit cards, personal loans, and store cards, into a single secured loan can reduce the total monthly outgoing if the combined current payments are higher than the single secured loan repayment. According to data reviewed by Sustainable Fitch, 72.5% of Evolution's customers experienced an increase in their credit score within two months of loan origination. This is an observed outcome based on historical data, not a guarantee.

It is essential to understand that consolidating unsecured debts into a secured loan transfers the risk to your home. If you previously owed £15,000 on credit cards, that debt was unsecured. If you consolidate it into a secured loan, it becomes secured against your property. If you then cannot keep up with repayments, your home is at risk. You should also be aware that extending the repayment term, which is common when consolidating, may mean you pay more in total interest even if the monthly payment is lower. The guide to secured loans for debt consolidation covers the trade-offs in full.

B Corporation certification is awarded by B Lab, an independent nonprofit organisation, to businesses that meet verified standards of social and environmental performance, accountability, and transparency. Evolution is one of very few UK specialist lenders to hold this certification. It reflects the company's stated commitment to financial inclusion: providing access to credit for borrowers who are excluded from mainstream lending.

The certification does not change the terms of the loan or the regulatory protections available to borrowers. It is a corporate standard, not a consumer product feature. What it does indicate is that Evolution's social impact, including its lending to financially excluded borrowers, has been independently assessed against a defined framework. The lender's Social Financing Framework, assessed by Sustainable Fitch, provides an additional layer of external verification for its social lending proposition.

Yes. Both entities in the Evolution Money structure are authorised and regulated by the Financial Conduct Authority. Evolution Money Limited (the broker) holds FCA reference number 708324. Evolution Lending Limited (the lender) holds FCA reference number 709488. Second charge mortgages are regulated products, which means they are subject to FCA conduct rules including mandatory affordability assessments, standardised product disclosure, and the right for the borrower to complain to the Financial Ombudsman Service.

As a regulated product, the lender must assess whether the loan is affordable for the borrower over the full term. This is a legal requirement, not a discretionary step. If you believe the loan was mis-sold or that the affordability assessment was inadequate, you have the right to raise a complaint through Evolution's internal complaints process and, if unsatisfied, escalate it to the Financial Ombudsman Service.