Dot Dot Loans is owned by Morses Club – one of the UK’s largest home-collected loan companies, that’s been around for over 130 years. Dot Dot Loans offers a fully-online service, and strives to be simple, fast and fair. You don’t necessarily need a perfect credit score to get a Dot Dot loan, but much like any other responsible short-term lender, your application will be subject to credit and affordability checks.
Please note: high-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
Key features of a Dot Dot loan
Unlike a traditional “payday” loan, which you’d pay back in one lump sum on your payday, a Dot Dot loan allows borrowers to spread repayment over a number of months. This makes for smaller, more manageable monthly repayments, but a more expensive loan overall.
New customers can borrow £100-£600. The amount you borrow will depend on your requirements, credit rating and affordability. Existing customers can apply for higher value loans of up to £1250.
Borrow over 3, 6 or 9 months. Existing customers can apply for longer loans of up to 12 months.
Fixed, high rates. Fixed rates mean that you’ll know in advance exactly how much your loan will cost you, but realistically this is an extremely expensive way to borrow money.
Quick quote. Dot Dot Loans will give you an initial decision in just a few minutes, telling you exactly what you will have to repay in total over the term you have requested.
Fast access to funds. If you apply between 8:30am and 4:30pm, Dot Dot Loans aims to have the money in your bank account within an hour.
Flexible repayment dates. Pay back your loan along with the accrued interest in monthly instalments to suit you, helping you to budget your outgoings.
How do Dot Dot loans hold up against the competition?
Table: promoted deals, sorted by total payable
If you’ve been on the Dot Dot loans site and have estimated the cost of a loan, you’re probably going to want to shop around to see if you’re getting a good deal. You can use the table below to estimate the cost of the loan that you have in mind. We compare loans from a range of popular short-term lenders. Remember that each lender sets its own min/max loan amounts and terms, and its own eligibility requirements.
How much money do you need to borrow?
How long do you need to borrow over?
Important information: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
We compare payday/short-term loans from
Is high-cost, short-term borrowing a good idea?
Short-term loans offer a quick solution when you get into difficulty with your finances, but they are a very expensive method of borrowing. They should therefore only be considered as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and are not a good idea for borrowing over longer periods, or for sustained borrowing.
Before you apply for a short-term loan, make sure you have considered other options carefully. Is the expenditure that you’re planning absolutely essential? If you can defer a purchase then you could save yourself money in the long run. If you are struggling to pay a bill, then try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan. Read more about alternatives to payday loans at moneyadviceservice.org.uk.
How does it work?
Decide on the size of the loan you require and the number of instalments you wish to pay the money back in.
Complete the simple application for, providing your personal, contact, employment and financial details.
Dot Dot Loans will perform a credit check to determine if you are eligible for a loan and the size of that loan.
Once approved, the money is usually credited to your bank account within an hour as long as you are applying within office hours.
Dot Dot Loans uses a Continuous Payment Authority (CPA) to collect your repayments on the monthly instalment dates you have chosen.
What is a Continuous Payment Authority (CPA)?
With a CPA you give a company permission to withdraw money from your account on a regular basis.
CPAs differ from a direct debit because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most payday/short-term lenders will use a CPA to collect your repayments. You can cancel this at any point by either consulting with your loan provider or your bank.
What are the eligibility requirements?
Make sure you meet the following criteria before applying for a Dot Dot loan:
Minimum income of £14,400 per year
Hold a valid email address and mobile phone number
Able to provide your home address information for the last 3 years
Able to provide your debit card and bank account information
Did you know?
In 2015 the Financial Conduct authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.
They additionally capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.
Frequently Asked Questions
New customers can apply to borrow up to £600. Existing customers may be eligible to borrow up to £1250. Dot Dot Loans performs credit and affordability checks for each loan to help ensure that you don’t get yourself into any difficulty.
Yes, every application to Dot Dot Loans is credit checked.
Dot Dot Loans aims to give you a decision straightaway, but in some cases you may be asked for additional supporting documents.
You will need to wait 90 days before you can reapply. Remember that if your circumstances haven’t changed, Dot Dot Loans’ decision is unlikely to change.
If you are experiencing any issues, do not hesitate to contact Dot Dot Loans either using their online contact form, or phone on 0330 045 0725. Alternatively, if you are still dissatisfied, you can contact the Financial Ombudsman Service (FOS) to deal with your case.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
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