Direct loans
What are direct loans?
A direct loan is money you borrow straight from a lender without going through an intermediary.
This means that when borrowers apply for direct loans, they only need to have contact with the direct lender, and will get a loan decision straight from them.
Is a direct loan safe?
Providing your lender is authorised and regulated by the Financial Conduct Authority (FCA), as is Loans 2 Go, you have significant protection because the FCA ensures the company follows rules on fair treatment, transparency and responsible lending. When looking at lenders offering direct loans, always check this.
What are the advantages of direct loans?
The main advantage of a direct loan is you are dealing directly with the company that makes the final decision.
You may also be charged an additional fee if you deal with an intermediary.
The other advantage of a direct loan is that you are likely to receive your money much faster than if you go through a third party.
What is the eligibility for Loans 2 Go direct loans?
You need to be:
- Resident in the UK, either as a homeowner, tenant, or living with your parents;
- At least 21 years old;
- Currently employed with a regular income;
- The holder of a UK bank account and debit card.
Many applicants for direct loans worry in case their credit score is not good enough to be accepted for a loan. Loans 2 Go is an alternative direct lender. We will still consider lending to you even if your credit history is less than perfect.
Does Loans 2 Go offer direct loans?
Yes. We offer direct loans from £250 to £2,000.
If you take out one of our direct loans, depending on your individual circumstances, the term will be either 18 or 24 months.
You can choose whether to make repayments on a weekly, fortnightly or monthly basis, and can pay us either by Continuous Payment Authority from your debit card or by using our online payment portal.
We do not charge a fee for setting a direct loan.
What is the application process for a direct loan?
All you need to do is:
- Click Get Started
- Select how much you want to borrow
- Provide us with basic information
Once you submit your initial form we will conduct a soft search without it impacting your credit score to see if you are eligible.
If you’re provisionally accepted you can then choose to complete the full application. If your loan is approved, we will aim to get the money in your account the same working day (subject to working hours).
Personal loans | 18 or 24 months
Life is full of ups and downs, and sometimes things just don’t go to plan.
£250 - £2,000
personal loans
Confidential &
secure
Money
same day
FAQ
We are very flexible and provide repayment options of weekly, fortnightly, or monthly.
Payments can be made safely and securely online using our online customer portal. You will need your agreement number and a bank debit card to make this payment.
If you wish to settle your personal loan please contact our Customer Services department to receive an up-to-date settlement figure or email us on [email protected] or call 0330 4000 402.
Representative example: If you borrow £550 over 18 months at a flat rate of 168% per annum (fixed) with a representative 679% APR you will make 18 monthly payments of £107.56, repaying £1,936.08 in total. The rate and term you are offered is dependent on your individual circumstances.
Warning: Late repayment can cause you serious money problems. For independent help, please go to www.moneyhelper.org.uk
