Loans 2 Go offers short-term loans of £250 to £1,000 to be repaid in weekly, fortnightly or monthly instalments.
In 2015, Loans 2 Go merged with competitor Logbook Loans, increasing the size of the business. The lender has headquarters in London and Manchester and 78 branches across the UK.
Loans 2 Go specialises in offering short-term loans of up to £1,000 to people who are traditionally overlooked by mainstream financial institutions. You can apply online and have the money in your bank account within just 60 minutes after approval, provided you apply in office hours. Repaying your loan on time could help you rebuild your credit rating, giving you more options for credit in the future.
Loans 2 Go is authorised and regulated by the Financial Conduct Authority.
Is high-cost, short-term borrowing a good idea?
Short-term or “payday” loans offer a fast solution when you get into unexpected difficulties with your finances, but they are a very expensive method of borrowing. So consider this option as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and aren’t suitable for borrowing over longer periods, or if you have serious debt problems.
Before you apply for a short-term loan, make sure you have considered all other options. Is the expenditure that you’re planning unavoidable? If you can defer a purchase then you could save yourself money in the long run. If you’re 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.
Key features of a Loans 2 Go loan:
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Please note: High cost short term credit is unsuitable to support sustained borrowing over long periods and would be expensive as a means of longer term borrowing.
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
How does a Loans 2 Go loan work?
- Use the slider on the website to select how much you wish to borrow and how long you need to repay the loan.
- Fill out the simple application form with your personal, employment and financial details.
- A member of the Loans 2 Go team will call you to discuss your borrowing options.
- Once accepted, you can expect the money in your bank account within 60 minutes. This is subject to you applying within the working hours of Monday to Friday, 8am to 8pm, and Saturday 8am to 5pm.
How do I pay back my loan?
Like most short-term loan providers, Loans 2 Go uses a Continuous Payment Authority (CPA) to collect the repayments from your bank account on your chosen dates.
What is a Continuous Payment Authority (CPA)?A CPA is a recurring payment in which you give a company permission to withdraw money from your account on a regular basis.
CPA differs from 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 loan companies will use CPA to collect your repayments, however you can cancel this at any point by either consulting with your provider or your bank.
What are the eligibility requirements?
You should only apply for a Loans 2 Go loan if you are certain you can meet the repayment terms. You must also:
- Be aged 21 or over.
- Be permanently employed. Loans 2 Go does not accept applications from people who work for an agency, or are part-time or self-employed.
- Be a UK resident
- Have a UK bank account with a debit card
Loans 2 Go offers loans to both tenants and homeowners.
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