Loans 2 Go loans review - Are these short term loans the way-2-go? (2024)

Warning: Late repayment can cause you serious money problems. For help, go to

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.

Loans 2 Go Short Term Loan

  • Borrow from £250 to £2,000
  • Self-employed considered
  • Money in your bank account within 15 mins of approval

Representative example: Borrow £550 for 18 months at a flat rate of 180% p.a. (fixed). Representative APR 770% and total payable £2,035.08 in 18 monthly payments of £113.06.

Check eligibility

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Key features of a Loans 2 Go loan

In 2015, Loans 2 Go merged with competitor Logbook Loans, increasing the size of the business. The lender, based in London, offers unsecured loans with a standard term of 24 months and a representative APR of 770%.

Loans 2 Go specialises in offering loans of up to £2,000 to people traditionally overlooked by mainstream financial institutions. You can apply online and have the money in your bank account within just 15 minutes of approval, provided you apply during 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.

Product NameLoans 2 Go Short Term Loan
Available Amounts£250 to £2,000
Representative APR770%
New customer maximum£2,000
Loan terms18 months to 24 months
Soft search eligibility check
Instant decision in most cases
Funding speedYou can expect the money in your bank account within 15 minutes of approval (this is subject to you applying within the working hours of Monday to Friday, 8am to 8pm, and Saturday, 8am to 5pm).
Repayment period optionsMonthly,Weekly,Fortnightly
Default repayment methodContinuous payment authority
Additional repayment methodsOnline payment
Repay early at any point
FCA registration number679836

How does a Loans 2 Go loan work?

  1. Use the slider on the website to select how much you wish to borrow.
  2. Fill out the simple application form with your personal, employment and financial details.
  3. A Loans 2 Go team member calls you to discuss your borrowing options.
  4. Once accepted, you can expect the money in your bank account within 15 minutes. This is subject to you applying within the working hours of Monday to Friday, 8am to 8pm, and Saturday, 8am to 4pm.

Loans 2 GO customers can then manage their loan via the Loans 2 Go login page.

How much does Loans 2 Go cost?

Loans 2 Go loans have a representative APR of 770%. The precise cost depends on the loan’s size and terms, as well as how long you take to pay it back.

You won’t be charged any fees when you take out a loan but may be charged if you fail to make your repayments on time.


Loan amount: £550
Loan term: 18 months (with monthly repayments)
Interest rate: 180% p.a.
Representative APR: 770%

Total cost: £2,035.08

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:

ResidencyUK resident
Minimum age21
Applications from self-employed considered
Applicant with CCJsApplicants with CCJs are considered
Additional eligibility notesYou must be currently in employment with a regular income.
You must have a UK bank account.
LinkCheck eligibility

Loans 2 Go offers loans to both tenants and homeowners.

Is Loans 2 Go safe?

Loans 2 Go is a registered lender authorised and regulated by the FCA.

While it is safe to get a loan from Loans 2 Go, short-term loan products such as those offered by Loans 2 Go can cause serious financial difficulties and should only be considered a last resort.

How do I pay back my loan?

Like many high cost loan providers, Loans 2 Go uses a continuous payment authority (CPA) to collect the repayments from your bank account on your chosen dates.

You can make repayments on a weekly, fortnightly or monthly basis. You can also make early repayments on the loan but may be charged additional interest if you pay the loan off early in full.

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.

A CPA differs from direct debit because it gives the company being paid the ability to withdraw money from your account whenever it wants to and to take payments of different amounts without consulting you. Many loan companies use a CPA to collect your repayments. However, you can cancel this at any point by consulting with either your bank or provider.

Additional borrowing options

Repay early at any point
Repaying early can reduce overall interest
Multiple loans allowed at the same time
Phone number0330 400 6000
LinkCheck eligibility

Customer support information

You can contact Loans 2 Go with any queries or to get support through the contact form on its website. Alternatively, you can email Loans 2 Go at or give it a ring on 0330 400 6000.

Customer reviews

Loans 2 Go has an “average” rating on review platform Trustpilot with 3.6 out of 5, based on over 2,700 reviews (updated September 2023). Customers commended the excellent customer service, simple application process and quick transfer of funds.

Our verdict

Borrowing £550 from Loans 2 Go over 18 months would mean repaying £2,035.08 in total, at the representative APR. High cost loans offer a fast solution when you get into unexpected financial difficulties, but they are a very expensive method of borrowing. So, consider this option a last resort. High cost loans are unlikely to solve your money problems in the long term if you have serious debt problems.

It’s wise to consider all other options before you take out a high cost loan. Is the expenditure you’re planning unavoidable? If you can defer a purchase, 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 loan alternatives at

Did you know?

In 2015, the Financial Conduct Authority (FCA) capped interest and fees on all high cost credit loans at 0.8% per day for loans that last less than a year (or where the loan has been at least substantially repaid within a year).

The FCA additionally capped all default charges at £15 and the total cost (interest, fees) of these loans at 100% of the original sum. This means you wouldn’t have to pay more than double the amount borrowed on a loan that lasts less than a year.

Frequently asked questions

  • Loans 2 Go does not charge any set-up fees when you take out a loan. You may, however, incur charges if you fail to make your payments on time. These can include court fees.

  • Yes, like most loan providers, Loans 2 Go undertakes credit checks to establish if the loan is affordable for you. It does lend to people with poor credit histories but will want to make sure you can afford the repayments.

  • It is worth noting that Loans 2 Go does not charge customers a set-up fee or initial administration fee. It also does not deal with brokers that charge an initial broker or administration fee. If you receive a suspicious call or notice a transaction that doesn’t appear to be correct, you must contact Loans 2 Go as soon as possible.

  • Its office opening hours are Monday to Friday, 8am to 8pm, and Saturday, 8am to 5pm.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circ*mstances when you compare products so you get what's right for you.

As an enthusiast with a deep understanding of financial services, particularly short-term loans, I'd like to shed light on the information provided in the article about Loans 2 Go. My expertise stems from a comprehensive knowledge of the industry, its regulations, and the intricacies of borrowing and lending.

The article discusses Loans 2 Go, a London-based lender that merged with Logbook Loans in 2015, expanding its business size. Loans 2 Go specializes in offering unsecured loans ranging from £250 to £2,000 with a standard term of 24 months and a representative APR of 770%. The lender targets individuals often overlooked by mainstream financial institutions.

Key Concepts:

  1. Loan Details:

    • Loan Amounts: £250 to £2,000
    • Representative APR: 770%
    • New Customer Maximum: £2,000
    • Loan Terms: 18 to 24 months
  2. Application Process:

    • Apply online for quick approval (within 15 minutes during office hours).
    • Borrowers can manage their loans via the Loans 2 Go login page.
  3. Cost and Repayment:

    • Loans have a representative APR of 770%.
    • Repayments can be made monthly, weekly, or fortnightly.
    • Continuous Payment Authority (CPA) is used for collections.
  4. Eligibility Requirements:

    • UK resident, minimum age 21.
    • Applications from self-employed individuals are considered.
    • Applicants with CCJs are considered.
    • Must be currently employed with a regular income and have a UK bank account.
  5. Safety and Regulation:

    • Loans 2 Go is authorized and regulated by the Financial Conduct Authority (FCA).
    • Short-term loans are emphasized as a last resort due to potential financial difficulties.
  6. Customer Reviews:

    • Trustpilot rating: 3.6 out of 5 based on over 2,700 reviews.
    • Customers commend customer service, a simple application process, and quick fund transfers.
  7. Repayment Options:

    • Repayments can be made weekly, fortnightly, or monthly.
    • Early repayments are allowed but may incur additional interest.
  8. Additional Borrowing Options:

    • Multiple loans allowed simultaneously.
    • Repaying early can reduce overall interest.
  9. Contact Information:

    • Customer support available via contact form, email (, or phone (0330 400 6000).
    • Office hours: Monday to Friday (8 am to 8 pm), Saturday (8 am to 5 pm).

It's crucial to note that while Loans 2 Go provides a quick solution for unexpected financial difficulties, it's considered an expensive method of borrowing. Users are advised to explore other options before resorting to high-cost loans and to consider the long-term implications of their financial decisions.

If you have any specific questions or need further clarification on any aspect, feel free to ask.

Loans 2 Go loans review - Are these short term loans the way-2-go? (2024)


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