Independent review. Equiclear is an introducer, not a lender, and has no commercial relationship with Evolution Money unless stated. Criteria below are taken from Evolution Money's own published information (source) and were last checked on 15 September 2026. Where a figure could not be verified it is left out.
Evolution Money is a Manchester based lender offering secured loans (second charge mortgages, also called homeowner loans) of £5,000 to £105,000 over 3 to 20 years, direct to homeowners aged 21 to 70. It says all credit profiles are considered and that decisions are not based on credit score alone. Its published representative APRC is 21.82% variable and it charges a product fee of 10% of the loan plus a lending fee, so it suits people declined elsewhere rather than those seeking the lowest cost.
Evolution Money secured loan criteria at a glance
| Maximum combined LTV | Not published |
|---|---|
| Loan size | £5,000 to £105,000 |
| Terms | 3 to 20 years |
| Minimum income | Not published |
| Maximum age at end of term | 70 (loan must be repaid by the 70th birthday; minimum age 21) |
| Adverse credit | Evolution Money says all credit profiles are considered and that a poor credit history will not automatically disqualify you, naming missed card payments and CCJs as examples. It does not publish specific rules on the number or age of CCJs, defaults, IVAs, debt management plans or arrears, so treat each case as individually assessed. |
| Self-employed | Yes, with at least 12 months' trading |
| Buy to let | Not published |
| Fees | Product fee of 10% of the loan amount, plus a lending fee of £763 in England and Wales, £1,051 in Scotland or £1,736 in Northern Ireland (figures from the representative example, checked September 2026). Both are added to the loan. |
| Typical time to funds | Not published |
| How to apply | Direct to consumers online and by phone; also a credit broker to other lenders |
Who are Evolution Money?
Evolution Money Limited is a Manchester based finance company registered at 9 Portland Street, authorised and regulated by the Financial Conduct Authority under firm reference number 708324. Its site describes the business as launched in 2011 and part of the Darwin Group, with founders who have over 100 years of combined lending experience between them.
The structure is worth understanding. Evolution Money Limited describes itself as "a licensed credit broker and service provider to Evolution Lending Limited". In plain terms, the group lends its own money through Evolution Lending Limited, and Evolution Money is the consumer facing brand that takes and processes the application. If an application does not meet Evolution Lending's criteria, the site says it may pass your details to other lenders and brokers. So although you are dealing with a lender, there is a chance your application ends up elsewhere.
Unlike most of the specialist second charge lenders in our lender database, Evolution Money markets direct to the public. You can check eligibility online or through its app, and its site says that checking will not affect your credit score. It also lists a phone number for direct enquiries. Its products are also available through some brokers, but its own site does not publish a broker criteria guide, so everything on this page comes from its consumer pages.
As with any secured loan, an Evolution Money loan is secured on your home, and your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Evolution Money's own pages carry the same warning. Before consolidating debt with a loan at its published rates, it is sensible to speak to a free, impartial advice service such as MoneyHelper, StepChange or Citizens Advice, who may identify a cheaper route.
What secured loans does Evolution Money offer?
Evolution Money's site advertises secured loans from £5,000 to £105,000 with repayment terms of 3 to 20 years (checked September 2026). The same product is marketed under several names, including homeowner loans, debt consolidation loans, home improvement loans and bad credit loans, but the amounts and terms are the same on each page.
All Evolution Money loans are variable rate. Its published range is 8.6% to 27.87% a year, with a maximum APRC of 50.00%, and a representative APRC of 21.82% variable. Its representative example is a loan of £18,900 over 180 months at 18.72%, with 179 monthly payments of £335.99 and a final payment of £335.79. That example includes a product fee of £1,890, which is 10% of the loan, and a lending fee of £763 for a property in England or Wales (£1,051 in Scotland or £1,736 in Northern Ireland).
Those figures are Evolution Money's own and are not an offer. They show a lender that prices for risk: the representative APRC is well above the low single digit rates advertised by prime second charge lenders and closer to what many people pay on credit cards. Use the debt consolidation calculator to see whether a loan at a rate like that actually reduces your total cost, because stretching card debt over 15 years can mean paying more overall even when the monthly payment drops.
Evolution Money does not publish a maximum loan to value on its consumer pages, nor any minimum property value or equity requirement. Its eligibility pages say you must have a mortgage on a property that you can use as security; it does not offer loans on unencumbered homes. It also does not publish a time to funds, though it describes a simple online application that takes a few minutes to start. Read our guide to how long a secured loan takes to pay out for typical market timescales.
What are Evolution Money's lending criteria?
Evolution Money publishes a short list of eligibility points rather than a detailed criteria guide. To apply you must be a homeowner with a mortgage on the property, aged between 21 and 70, living in the UK, and able to afford the repayments from your regular income now and for the full term. The loan must be repaid by your 70th birthday, which is a lower age limit than most specialist lenders (many go to 80 or 85), so a 60 year old could take at most a 10 year term.
On income, its eligibility page says you must be currently employed, and that self-employed applicants are considered with at least 12 months of trading. No minimum income is published. Affordability is assessed from regular income, and the site does not say whether benefit income is included.
On credit history, Evolution Money's message is consistent across its pages: "all credit profiles considered", decisions are "not solely based on your credit score", and a poor credit history will not automatically disqualify you. Its bad credit loans page gives missed card payments and a CCJ as examples of what might have affected your score. What it does not do is publish the sort of rule set that Norton Home Loans or West One publish, so there is no way to know from its site how many defaults, how recent an IVA or how much mortgage arrears it will tolerate. Treat any claim you see on third party sites about Evolution Money's LTV or adverse limits with caution unless the lender confirms it.
Evolution Money says it does not rely on automated credit checks and looks at your wider circumstances, which is a common approach among lenders serving people with impaired credit. The practical consequence is that the rate you are offered will reflect that assessment, and could be anywhere in its 8.6% to 27.87% range. Our bad credit hub explains what else lenders weigh up.
How does Evolution Money compare?
Evolution Money is the most consumer facing lender in our database. You can start an application yourself, the eligibility check is a soft search, and it is open about considering people that other lenders decline. For someone who has already been turned down and does not want to go through a broker, that accessibility is the main attraction.
The cost is the main drawback. A 10% product fee is high by second charge standards: Pepper Money charges £595 to £1,995 in total and Norton Home Loans £695 to £1,495, whereas Evolution Money's fee on a £20,000 loan would be £2,000 plus the £763 lending fee. Its representative APRC of 21.82% is also far above the rates that prime lenders advertise. If your credit is reasonable, a broker is likely to find you a cheaper loan, and if your credit is poor, it is still worth having a broker compare Evolution Money against adverse plans from Norton, Together or Equifinance.
The £105,000 maximum and 20 year term are smaller than most specialist lenders, and the age 70 limit is lower. It does not publish an LTV ceiling, so we cannot say whether it is more or less generous on equity than the market; some third party sites make claims about very high LTVs, but Evolution Money's own pages do not, so we have not repeated them.
Evolution Money also acts as a credit broker, passing declined applications to other lenders. That can be convenient, but it means an application to Evolution Money is not necessarily a decision from Evolution Money. A qualified adviser working from the whole market avoids that uncertainty. If you are consolidating debt, remember the golden rule: a lower monthly payment over a longer term can cost more in total. Our guide on whether a secured loan is a good idea for paying off debt works through when it makes sense.
Our verdict
Evolution Money is a reasonable option if you have been declined by mainstream lenders, want to apply directly rather than through a broker, and need a loan of £5,000 to £105,000 over up to 20 years. Its willingness to consider all credit profiles is genuine and its process is simple. It is less suitable if you want the lowest cost: a 10% product fee, a lending fee of £763 or more, a representative APRC of 21.82% and a maximum age of 70 all count against it, and it publishes no LTV or adverse credit limits to help you judge your chances in advance. Before committing, let an FCA authorised broker compare it against specialist lenders that publish cheaper adverse plans, and take free debt advice if you are consolidating.
Alternatives to Evolution Money
If cost matters more than convenience, Norton Home Loans publishes detailed adverse credit plans with fixed lender fees, Together considers missed payments and satisfied IVAs with a £1,995 product fee, and Selina Finance also lends direct but targets cleaner credit at lower rates. The lender criteria database compares all of them.
Worried about debt? Get free advice first
If you're struggling, it's worth speaking to a free, impartial debt advice service before you borrow more. They don't sell anything and won't judge your situation.
- MoneyHelper: Free, impartial debt advice backed by government
- StepChange: The UK's largest free debt charity
- Citizens Advice: Free, confidential advice on debt and money
Checking your options with Equiclear will not affect your credit score.
Frequently asked questions
Is Evolution Money a lender or a broker?
Both, in a sense. Evolution Money Limited describes itself as a licensed credit broker and service provider to Evolution Lending Limited, the group's lending company. Your loan is normally from Evolution Lending, but if you do not meet its criteria your details may be passed to other lenders and brokers, which the site states openly.
What rate does Evolution Money charge?
Evolution Money publishes a variable rate range of 8.6% to 27.87% a year, a representative APRC of 21.82% variable and a maximum APRC of 50.00% (checked September 2026). The rate you are offered depends on its assessment of your circumstances. These are the lender's published figures, not an offer, and are well above prime second charge rates.
Does Evolution Money lend to people with bad credit?
Yes. Its pages state that all credit profiles are considered and that a poor credit history, such as missed payments or a CCJ, will not automatically disqualify you. It does not publish limits on the number or age of CCJs, defaults, IVAs or arrears, so each case is assessed individually and the rate will reflect the risk.
What fees does Evolution Money charge?
A product fee of 10% of the loan amount and a lending fee that depends on where the property is: £763 in England and Wales, £1,051 in Scotland and £1,736 in Northern Ireland, according to its representative example. Both are added to the loan and attract interest, so factor them into the total cost before you decide.
Can I apply to Evolution Money directly?
Yes. Evolution Money markets direct to homeowners through its website, app and phone line, and you can check eligibility online without affecting your credit score. Applying directly means you only see its products, though, so it is still worth having an FCA authorised broker compare the wider market before you commit to a secured loan.