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Lee Farrand

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Review of the Evolution Money, Secured loan:

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AVOID! Sell a kidney if you have to

What a complete waste of time and energy! I applied for a secured loan 22 days ago and was told that Evolution Money were one of the quicker paying loan companies, expecting to pay within 3-5 days. What a load of cobblers! They strung me along for 22 days, reassuring me that I was a good candidate to be accepted to the loan. I connected all my bank accounts and they went through each transaction with a fine tooth comb, asking me to explain what each and every thing was. They also went through my credit file in great detail and I spent MANY HOURS on the phone to their underwriters explaining everything. Even then they kept coming back to me with follow up questions day after day. It was soul sapping, and I would much rather have dragged myself over broken glass naked than spend that length of time poring over every detail of my life, justifying every purchase. They even wanted to know what some £5 purchases at Amazon were for. I also had to keep chasing them for updates. The final straw was on Friday when I spoke to one of the underwriters handling my case (Kadeel). He seemed confident of a positive lending decision on Monday and that he would call me in the morning. Guess what? I didn't receive a phone call and I had to chase yet again at 15:30. The assistant who answered told me that Kadeel was conveniently unavailable, but the lending manager had declined my application and that was that. What a joke of a company. I was only applying for a loan of £18k that would have been SECURED on my property which has £400k equity. WHERE IS THE RISK?! Anyone would have thought I was asking to borrow £1m based on how I was hauled over the coals. I would not recommend Evolution Money UNDER ANY CIRCUMSTANCES. Sell a kidney if you have to, it will be quicker and be much less inconvenience! Reviewed on: 22nd September 2025

Reply from Evolution Money Thank you for taking the time to share your feedback. We lend responsibly and ensure the loan is affordable before it can be approved. This means our team carries out detailed checks on income, spending and credit history so we can fully understand each customer’s circumstances and meet our regulatory obligations. This process can involve follow up questions and may take longer than expected in some cases. We recognise that this can feel time consuming, especially when you are waiting for a decision, and we appreciate you engaging with the process. A lending decision is based on a range of factors, not just the level of equity in a property, and all applications are subject to a full assessment before a final outcome is confirmed. We take your feedback seriously and will share your comments with the relevant teams to review communication and overall experience. Thanks Response date: 14th April 2026

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