Lender Profile
Evolution Money Secured Loans
UK specialist lender for significant adverse credit — up to 95% combined LTV, no arrangement fee, no ERCs. Often the only viable secured route for heavy-adverse cases.
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 that occupies a structurally distinct position on the panel: they lend to borrowers whose credit history sits outside every other specialist's underwriting tolerance. The core product — Plan 8 — accepts recent CCJs, defaults, IVAs, active arrears, and other significant adverse credit markers, at a variable rate of 12.90% APR. Combined LTV can extend to 95%, which is the highest LTV cap on our panel.
Evolution's positioning is essential to the UK secured loan ecosystem. Without them, borrowers with significant adverse credit history and thin equity would have no secured borrowing route at all. The alternative is typically unsecured lending at 30%+ APR (where available), continued reliance on unsecured revolving credit at 25-40% APR, or no funding at all. In that context, Evolution's 12.90% variable rate is often the cheapest funding option genuinely available to the borrower.
Loan sizes are capped at £50,000 — smaller than mainstream specialists. This suits the typical adverse credit case profile: consolidation of problematic unsecured debt, emergency capital raising, or resolution of a specific pressing financial issue. Loans over £50,000 with adverse credit are placed with Pepper Money (minor-to-moderate adverse), Norton Finance (case-by-case moderate adverse), or Step One Finance depending on severity.
The product structure has three borrower-friendly features that distinguish it from typical variable-rate lending: no arrangement fee, no early repayment charges, and up to 95% combined LTV. The no-ERC feature is particularly valuable — borrowers whose credit position improves can refinance to a mainstream product without penalty. Underwriting is human-led and case-by-case, considering recency, severity, current affordability, and the underlying cause of the adverse credit history.
Product range: Plan 8 — variable-rate secured loan (currently 12.90% APR) for borrowers with significant adverse credit. £5,000 to £50,000, up to 95% combined LTV, no arrangement fee, no early repayment charges. Often the cheapest secured route for heavy-adverse cases.
Best for
- Borrowers with recent CCJs, defaults, IVAs, or active arrears
- Cases declined by mainstream and minor-to-moderate adverse specialist lenders
- Borrowers needing to consolidate problematic unsecured debt at 25-40% APR
- High-LTV adverse cases up to 95% combined LTV — highest on our panel
- Emergency capital raising where speed and acceptance matter more than headline rate
- Borrowers whose credit position may improve — no ERC lets them refinance later
- Smaller loans up to £50,000 where absolute rate cost is manageable
- Cases where no arrangement fee makes total cost more predictable
Key facts
- Min Loan
- £5,000
- Max Loan
- £50,000
- Max Term
- 20 years
- Max Ltv
- 95% combined (highest LTV cap on our panel)
- Fee
- £0 arrangement fee — one of two lenders on our panel with no arrangement fee
- Credit Tier
- Significant adverse credit accepted — recent CCJs, defaults, IVAs, active arrears
- Rate Structure
- Variable rate (12.90% APR currently)
- Completion
- Typically 2–4 weeks
- Property Eligibility
- Standard UK residential property in the applicant's name with current first charge mortgage. Combined LTV up to 95% — highest on our panel. Adverse credit history accepted at all levels of severity. Physical valuation typically required. Non-standard construction reviewed case-by-case.
Pros
- +Accepts borrowers declined by mainstream lenders AND minor-adverse specialists
- +No arrangement fee — total cost more predictable than fee-charging alternatives
- +Up to 95% combined LTV — the highest LTV cap on the UK secured loan panel
- +No early repayment charges — repay any time without penalty, refinance freely if credit improves
- +Often the cheapest secured borrowing option genuinely available to the borrower
- +Human-led underwriting with senior underwriter access for complex cases
- +Accepts active arrears at a level most specialists exclude entirely
- +Long track record on heavy-adverse UK secured lending
Cons
- −Variable rate at 12.90% APR — significantly higher than mainstream products (materially cheaper than unsecured alternatives)
- −Maximum loan £50,000 — not suitable for larger borrowing needs (Pepper, Norton, Selina, UTB go to £500,000)
- −Variable rate exposes borrowers to interest rate increases over the loan term
- −Higher-rate borrowing — should be considered alongside free debt advice (StepChange, MoneyHelper) before committing
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, IVAs, and active arrears. They underwrite case-by-case considering severity, recency, overall affordability, and the cause of the adverse credit history. Evolution's willingness to review cases with recent adverse events distinguishes them from Norton (which typically prefers 24+ months) and Pepper (which places recent adverse at higher-rate tiers).
How does Evolution Money compare to Step One Finance for adverse credit?
Both are the go-to placements for significant adverse credit on our panel. Evolution's Plan 8 sits at 12.90% variable APR with 95% combined LTV — the highest LTV cap on the panel — and no arrangement fee. Step One typically operates at similar rate levels but with a slightly different case-mix appetite. Evolution's no-arrangement-fee structure and 95% LTV give it an edge for higher-LTV cases; Step One may fit better where the case profile matches their specific underwriting preferences. Your adviser will identify which lender's criteria fit your case best before submission.
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 — recent CCJs, IVAs, and active arrears are underwriting territory that mainstream and minor-adverse specialists exclude entirely. For borrowers with significant adverse credit, Evolution is often the cheapest secured borrowing option still available: alternatives are typically unsecured credit at 25-40% APR, credit cards at 30%+ APR, or no funding at all. In that context, Evolution's 12.90% variable is materially cheaper than most alternatives.
What's the maximum loan at Evolution Money?
£50,000. For larger adverse-credit amounts on our panel, Pepper Money can consider minor-to-moderate adverse cases up to £500,000 (tighter criteria on heavy adverse) and Norton Finance considers moderate adverse cases up to £500,000 (case-by-case underwriting). For heavy-adverse cases above £50,000, options become narrower and often unavailable at any rate — which is precisely why Evolution's £50,000 cap suits the typical adverse credit case profile.
Does Evolution Money have early repayment charges?
No — Evolution's Plan 8 product carries no early repayment charges. You can repay the loan in full or make capital reductions at any time without penalty. This is particularly valuable for adverse credit borrowers whose credit position improves over time: you can refinance to a mainstream product at lower rate without any exit cost, unlike fixed-rate products from mainstream specialists which typically carry tapering ERCs during the fix.
Should I consider free debt advice before taking an Evolution Money loan?
Yes — always worth considering. Free regulated debt advice is available from StepChange (stepchange.org), Citizens Advice, National Debtline (nationaldebtline.org), and MoneyHelper (moneyhelper.org.uk). These services can review your overall financial position and confirm whether secured borrowing is genuinely the right route or whether a debt management plan, IVA, or other option would work better for your case. Evolution is a legitimate solution for the right borrower — but not the right first port of call for every adverse credit case.
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.