Evolution Money www.evolutionmoney.co.uk

We applied for a secured Loan a few months back and were told that the interest rates woulkd not change as they have not changed them in a long time...

They have unmistakeably increased the interest rate every month over the past 6-7 months. It started at around 16% and it is now up to 21% and creeping up constantly.

Desperate people do desperate things in desperate times. Circa 3 years ago I borrowed £20k secured, never missed a payment until now. My DD was taken last working day each month, however in November 2017 I changed employer, where my salary does not hit my bank account until around 4pm on last working day. No use for a DD then and I obviously can't change DD to the 1st, otherwise payment will be late and affect my credit score, so I would borrow the funds from family the day before and pay them back when my salary hit the following day. This became tiresome and inconvenient to manage though. Evolution therefore said they would call me each month instead and take payment by card after 4pm. Things worked fine for a while, then late morning on 31/12/18 I got a call advising they were closing half day and needed to take payment. No prior warning and obviously I hadn't been paid yet. Frantically I had to phone around family again to borrow some funds for a couple of hours to pay Evolution, then pay my family back when my salary hit late afternoon. Very stressful and unnecessary. Then on 31/01/19, I had travelled from the midlands to the north west for a family funeral, no call came to take payment and due to the circumstances it had completely slipped my mind. I woke up next morning and in a panic realised, called them immediately, the same girl as usual took payment, all apologetic she had never called me the day before and assured me this won't affect my credit file being a day late. I don't believe them. I have no blips on my credit file these past six years and now looks like I will have. As a general warning to people whom are desperate and in need of financial assistance, be wary, I borrowed £20k over 10 years, so in all I will pay back £40k due to their 50% rate. In the last three years I have paid them circa £12k and as the interest is front loaded, I would still have to pay them back circa £20k now if I settled early, working out at £4k interest per annum over the past three years. If I carry on with monthly instalments over the next 7 years and see out the remaining term, I will pay the remaining £28k on top of the £12k I have already paid. I am more savvy and less naïve than when I took out this loan. I still feel a complete mug though.

Complete waste of 2 days. First Evolution Money told me I could receive funds next day if I fast tracked it and sent documents to them immediately, I did this but after the underwriter reviewed my finances advised me that I needed to borrow more to get my finances back on track if they would lend me. Within half an hour it had turned from a 8 thousand pounds loan into a 15 thousand pounds loan repaying £29,000 in total.

The next day they said they would issue same day funding and were sending a courier with the loan agreement at 1pm so I could sign it to get it finalised before the cut-off time of 2:30am. At 12 they phoned me to tell me that because my mortgage wasn't up to date they couldn't proceed. Adamant that it was, I arranged a conference call with my mortgage lenders who confirmed I was up to date and sent a remittance statement as evidence. They said, great, they would call back in ten minutes, and hour later I called them only to be told that the people who had been dealing with me were no longer available.

Managed to speak to someone about my application to be given a different reason for not being able to fund me, after proving their reason was groundless, I was then given yet ANOTHER reason, which I again demonstrated their issue was unfounded only to be told the original reason that the decision was made because of (their own error) the incorrect information on my mortgage.

Received a reply to an earlier email to the funding manager, where I tried to bypass the bumbledom causing the delay and explain to her the facts and demonstrate that we were good to go. Her email said that she believed that my case worker had explained the reasons for the decision to which I replied that she hadn't explained anything and everytime I provided evidence that her reasons were unfounded, she gave another excuse. Did not receive a response.

In all wasted a day dealing with them even though I had told them that time wasn't a commodity available to us.

Absolute nob jockey's

I was told I didn't need to clear a secured loan but I did, they asked me multiple times for different info, did a property search on the wrong address, I had to email my documents to several different people. Lots of conflicting info depending on who you talked to and really in the end it felt like they really wanted me to take a high interest loan that wasn't going to improve my financial situation at all with a promise that I could borrow more in a few months time. I would not recommend them at all, in fact I made a complaint to the company directly and they are going to listen back to all my phone calls to investigate what really happened. All of this took 6 weeks. A shambles.

When we took this loan secured on our house we didn't think it would interfere with our wee family but it did we need to remortgage so we didn't know anything about deed of postponement so I checked on there website to see if they do this and yes they so contacted them and to my shock and anger they told me they don't do them even though its advertised on their site so I put a complaint in and won.

So they said we can have it and an apology for the inconvenience of holding up our remortgage and now having to wait three months we have been told today there not allowing it to go ahead so we are left in limbo,confused who to complain to know very!!! very!!! angry and up set as the remortgage was a safety net for Christmas as we were told we had the go ahead.

So thanks alot for you terrible custonmer service evolution.

SO PLEASE!!!PLEASE!!! DON'T GO WITH THEM AND I WISH I DONE SOME MORE RESEARCH BEFORE GOING WITH THEM SO I HAVE LEARNED A HARD LESSON !!!!!!!!!!!!!

For 2 1/2 months now we have been on and off the phone with Evolution who cannot simply take down the correct details, maybe it is because of the amount of people that handles your case instead of just one person! Second payment has come out to them and all my finances are still not sorted, told me today the money would be in by 5.30pm at the latest after giving them the correct details for the thousand time and guess what... credit is still not there. They really need to limit the number of people handling the case because this is where I see that they cannot pass correct information onto eachother! Terribly slow! Avoid and find a better company that is less hassle.

I saw all the hype, they flick you from one dept to the next.

However if you haven't got 2.2 family ect ect FORGET THEM as I went on and on through there searches and they are no better than the high street lender--Not got three years profit accounts, they cant help.

Had to send over loads documents. All was fine had a bloke come to my house sign contract agreement which i was told was the last bit and money would take 2-3 working days. 3 days later they ask for more stuff then 1 day after that they say affordablility is not ok. I thought all that would off been done at start off application. And they keep asking for more more documnets in stead off one load I wouldnt use them again i managed to use different company

Evolution offered us a loan £15000 for £500 a month. For ten years so you are paying back £65000 omg how can they charge that , ridiculous even the girl in the phone was embarrassed telling us , no wonder a maybe desperate. But Not stupid

The after service of this company is ridiculous. I have contacted them 3 times in relation to a debt they were supposed to have paid off and 3 times promised a callback once they had looked into it and 3 times no callback,if you are told they will call you back do not hang up you will not get a callback.