Unexpected expenses can arise at any time, making access to quick and reliable financial support essential. Loans 2 Go is a UK-based lender that provides fast, accessible, and flexible personal loans for individuals who may not qualify for traditional bank loans.
With over 20 years of experience, they offer loan amounts between £250 and £2,000, ensuring that borrowers can manage their financial needs effectively.
In this guide, we will cover everything you need to know about Loans 2 Go, including their loan types, application process, eligibility criteria, and repayment terms.
By the end of this article, you will have a comprehensive understanding of how Loans 2 Go operates and whether it is the right lender for your financial needs.
What is Loans 2 Go?
Loans 2 Go is a regulated and authorised UK lender that offers personal loans with a simple online application process. The company specialises in alternative financing solutions, particularly for individuals with limited borrowing options.
Their goal is to provide quick loan approvals with minimal requirements, making it easier for applicants to secure funds when needed.
Key Features of Loans 2 Go
- Loan amounts: Between £250 and £2,000
- Repayment terms: Flexible repayment options of 18 or 24 months
- Early repayment: No fees for repaying early
- Eligibility check: No impact on your credit score when checking eligibility
- Loan approval: Quick processing and payout within 24 hours
- Regulated lender: Authorised and regulated by the Financial Conduct Authority (FCA)
Loans 2 Go ensures that borrowers fully understand their loan agreements, helping them make informed financial decisions without hidden charges.
How Does Loans 2 Go Work?
Loans 2 Go operates through a simple and straightforward loan application process, making it easy for borrowers to apply online without visiting a branch. The entire process is designed to be quick, hassle-free, and accessible.
Step-by-Step Process to Get a Loan
- Check Eligibility: Use the online eligibility checker to see if you qualify for a loan without affecting your credit score.
- Apply Online: Fill out the online application form by providing basic personal and financial details.
- Receive a Loan Offer: If your application is approved, Loans 2 Go will present a detailed loan offer, including the loan amount, interest rate, repayment period, and monthly instalments.
- Accept the Loan Agreement: Carefully review the loan terms and digitally sign the agreement.
- Funds Transferred: If all conditions are met, funds will be deposited into your account within 24 hours.
Loans 2 Go ensures transparent lending, so borrowers are aware of their repayment obligations before accepting the loan offer.
What Are the Loan Types Available at Loans 2 Go?
Loans 2 Go offers a variety of loan options to cater to different financial needs. Whether you need a short-term solution or a loan despite having a low credit score, Loans 2 Go provides several options. Below are the main loan types available:
1. Online Loans
Loans 2 Go provides hassle-free online loans, allowing borrowers to apply from the comfort of their homes. The application process is entirely digital, requiring only a few minutes to complete.
Key Features:
- No need to visit a branch
- Quick application and approval process
- Funds are transferred directly to your bank account
2. Direct Loans
Loans 2 Go acts as a direct lender, meaning they provide funds directly to borrowers without intermediaries. This ensures a transparent lending process with no hidden broker fees.
Key Features:
- No third-party involvement
- Faster loan processing
- Transparent terms and conditions
3. Unsecured Loans
Unsecured loans do not require any collateral, making them a great option for those who do not want to put their assets at risk. Loans 2 Go offers unsecured personal loans ranging from £250 to £2,000.
Key Features:
- No collateral required
- Fixed interest rates
- Flexible repayment terms of 18 or 24 months
4. Emergency Loans
For unexpected financial emergencies, Loans 2 Go offers fast emergency loans that can be approved and funded within 24 hours. These loans help cover urgent expenses such as medical bills, car repairs, or utility bills.
Key Features:
- Fast approval and quick payout
- No early repayment fees
- Available for various emergency expenses
5. Bad Credit Loans
Loans 2 Go considers applicants with bad credit, providing a lending option for those who may struggle to secure loans from traditional banks. However, approval depends on an affordability assessment.
Key Features:
- No perfect credit score required
- Focus on affordability rather than credit history
- Flexible repayment terms
6. Secured Loans
Secured loans require the borrower to provide collateral, such as a vehicle or other valuable assets, to secure the loan. These loans often come with lower interest rates compared to unsecured loans.
Key Features:
- Lower interest rates due to collateral
- Higher chances of approval
- Available for borrowers with varied credit histories
7. Cash Loans
Cash loans provide quick access to money for borrowers who need instant financial assistance. These loans are processed quickly, with funds transferred to the borrower’s account within 24 hours.
Key Features:
- Fast access to cash
- Simple online application process
- Suitable for urgent expenses
8. Short-Term Loans
Short-term loans are ideal for borrowers who need financial help for a brief period. These loans come with fixed repayment terms and help cover small expenses.
Key Features:
- Borrow between £250 and £2,000
- Repayment terms of 18 or 24 months
- No hidden charges
9. Payday Loans
Payday loans are designed to cover expenses until your next payday. These loans are typically short-term, high-interest loans, meant to bridge a financial gap for a few weeks.
Key Features:
- Small loan amounts with quick repayment terms
- Higher interest rates compared to other loan types
- Designed for short-term financial needs
10. Guarantor Loans
Guarantor loans require a third party (guarantor) to co-sign the loan agreement, ensuring repayment if the borrower defaults. This option is suitable for those with poor credit or limited credit history.
Key Features:
- Requires a guarantor to co-sign the loan
- Higher approval chances for those with bad credit
- Fixed monthly repayments
Who Can Apply for a Loan with Loans 2 Go?
Loans 2 Go has minimal eligibility criteria, making it easier for a wide range of applicants to qualify for a loan. Unlike traditional banks, they consider individuals with different financial backgrounds, including those with bad credit.
Eligibility Requirements:
- Must be at least 21 years old
- Must be a UK resident
- Must have a regular income source
- Must have an active UK bank account
- Must provide proof of identity and address
While Loans 2 Go does accept applications from individuals with bad credit, the final approval depends on an affordability assessment to ensure the loan is manageable for the borrower.
How Much Can You Borrow from Loans 2 Go?
Loans 2 Go provides personal loans between £250 and £2,000, with flexible repayment options of 18 or 24 months. The loan amount and terms are determined based on your financial circumstances and affordability assessment.
Loan Breakdown
| Loan Amount | Repayment Term | Monthly Repayment (Example) | Total Repayment |
| £550 | 18 months | £107.56 | £1,936.08 |
| £1,000 | 24 months | £141.67 | £3,400.08 |
Key Points to Consider
- Fixed interest rates: Monthly repayments remain the same throughout the loan period.
- No early repayment fees: You can pay off the loan early without extra charges.
- Final loan terms depend on affordability checks and personal circumstances.
What Loan Services Does Loans 2 Go Offer?
Loans 2 Go offers a range of loan options to cater to different financial situations.
Available Loan Services:
- Personal Loans – Unsecured loans between £250 and £2,000.
- Top-Up Loans – Existing customers can apply for additional borrowing.
- Flexible Repayment Options – Choose between weekly, fortnightly, or monthly payments.
- Fast Loan Approval – Quick processing and payout within 24 hours.
Loans 2 Go prioritises flexibility and transparency, ensuring that borrowers can manage their repayments effectively.
How Can You Contact Loans 2 Go?
If you need assistance regarding loan applications, repayments, or general inquiries, you can contact Loans 2 Go through the following methods:
Contact Information:
- Email: hello@loans2go.co.uk
- Phone: 0330 400 6000
- Online Contact Form: Available on the official website
The customer support team operates during working hours and is available to assist with any loan-related concerns.
What Are the Terms and Conditions of Loans 2 Go?
Loans 2 Go has specific terms and conditions that borrowers must adhere to.
Key Terms:
- On-time payments are required to avoid late fees and penalties.
- Early repayment is allowed without any extra charges.
- Missed payments may result in additional interest charges and potential legal action.
- Failure to repay the loan on time could affect your credit score.
Borrowers should read the loan agreement carefully before signing to ensure they fully understand their responsibilities and repayment obligations.
What Is the Loans 2 Go Top-Up Service?
The Loans 2 Go Top-Up Service is designed for existing customers who may need additional funds before fully repaying their current loan.
This service allows eligible borrowers to access extra borrowing while maintaining a manageable repayment structure.
How Does the Top-Up Loan Work?
When you take out a loan with Loans 2 Go, you commit to repaying it over a fixed term of 18 or 24 months.
However, if your financial needs change and you require additional funds, Loans 2 Go provides the option to increase your borrowing limit through a top-up loan.
Instead of applying for a new loan separately, a top-up loan allows you to increase your existing loan balance, with the new repayment structure based on the total outstanding amount. This means your repayments will be adjusted accordingly.
Eligibility for a Loans 2 Go Top-Up Loan
To qualify for a top-up loan, you must meet specific eligibility criteria:
- Consistent Repayments – You must have made a certain number of successful payments on your existing loan. This demonstrates that you are reliable with repayments.
- Affordability Assessment – Loans 2 Go will conduct a financial evaluation to ensure that increasing your loan amount remains affordable for you.
- Loan Limit Restriction – The total borrowed amount, including the existing loan and the top-up loan, must not exceed £2,000.
Loans 2 Go may also check other factors, such as your income stability and existing financial commitments, before approving a top-up request.
Benefits of a Top-Up Loan with Loans 2 Go
- Quick access to additional funds without a separate loan application.
- Flexible repayment options with updated loan terms.
- No early repayment penalties, allowing you to pay off the loan sooner if desired.
- No impact on your credit score when checking eligibility.
Considerations Before Applying for a Top-Up Loan
While a top-up loan can provide extra financial support, borrowers should consider:
- Whether they can afford the increased loan repayments.
- The impact of longer repayment terms on their overall financial situation.
- Alternative financial solutions before increasing their loan amount.
Loans 2 Go encourages responsible borrowing and ensures that customers receive clear, transparent information about their repayment obligations before accepting a top-up loan.
Conclusion
Loans 2 Go is a trusted lender in the UK, providing fast and flexible personal loans with transparent repayment options.
Whether you need a short-term loan, an emergency loan, or a top-up loan, Loans 2 Go offers a simple and accessible lending solution.
Before applying, it is essential to review the loan terms, repayment commitments, and interest rates to ensure the loan is manageable and suitable for your financial needs.
FAQs
Is Loans 2 Go a direct lender?
Yes, Loans 2 Go is a direct lender, meaning they provide loans directly to customers without intermediaries.
Can I apply for a loan with bad credit?
Yes, Loans 2 Go considers applicants with bad credit, provided they meet affordability requirements.
How soon will I receive the loan?
If approved, funds are usually transferred within 24 hours.
Are there early repayment fees?
No, Loans 2 Go does not charge any early repayment fees.
Can I apply for a second loan?
Yes, if eligible, you can apply for a Top-Up Loan.
Does checking my eligibility affect my credit score?
No, Loans 2 Go uses a soft credit check that does not impact your credit score.
What happens if I miss a payment?
Missed payments may result in additional interest charges and could affect your credit score.
