Loans 2 Go Exits the Logbook Loan Market
A brief overview
A lot has changed in the 20yrs we’ve been trading, with an ever-increasing demand from our customers to obtain loans online. Over the years, we’ve learnt our customers prefer a much easier and swifter process when applying for any type of loan. Considering the mandatory legislative protocol for completing a logbook loan and the continuous decline in consumer demand for the said product, coupled with more recent social distancing obligations, it has become clear that the logbook product is no longer desired by our customers.
Therefore, we have decided to cease offering logbook loans to new and existing customers as of the 9th January 2021. Nevertheless, in response to our customers demand for dynamic and straightforward products, we’ve introduced unsecured products that can be easily accessed via our online platforms. We have also developed an online facility that enables our customers to manage their accounts online – such as viewing their balance, requesting settlement figures, requesting further borrowing and making payments etc.
What does this mean for our current and/or recent logbook loan customers?
The decision to cease offering new logbook loans has no impact whatsoever on existing logbook customers.
Existing customers should continue repaying their loans as per their loan agreement and not hesitate to contact us should they experience any difficulty as we’re always ready listen and to help.
Whilst we are unable to offer new logbook loans, existing and previous logbook customers may be eligible for one of our unsecured loans at preferential rates. To find out more, get in touch using the contact form or give us a call on 0330 400 6000.
Has Logbook Loans / Loans 2 Go gone out of business?
Far from it! We will continue to help thousands of customers every month with our unsecured personal loans (subject to eligibility and affordability).