loan refund or pay

Loans2Go Loans

If you received credit from Loans 2 Go (company number 4519020), you need to hear this.

Whether you’ve missed payments or not, there’s a number of ways that you can claim a refund from payday loans companies, and in some cases, cancel your Loans2go loan and receive a refund!

Even authorised and regulated loans companies can owe refunds to debtors.

Search our guide to see if Loans 2 Go from 34a Deodar Road owe you a refund. 

It’s not your fault. Complaints to the Financial Ombudsman have risen this year from 830 to 2,006, so it’s safe to say that you’re not alone.

Deal with your debt today and feel better tomorrow.

Loans2Go Loans UK

Who are Loans 2 Go Limited?

Loans 2 Go is a UK payday loans provider, offering flat rate loans that are regulated by the Financial Conduct Authority (FCA). 

The maximum loan you can receive from Loans2Go is £3,000. Loans can be repaid over 18 months or longer. If you prefer to apply with a human touch, you can apply over the phone. You’ll receive a reference number after applying.

Applications can also be completed online without having to speak with a human and successful applications can have their money paid within just 15 minutes after approval. 

They remain an active lender in the UK payday loans market and have no other trading names. 

Write off some of your debt

This 4 question debt calculator will tell you if you’re eligible.

What is the total amount of your debt?

Do Loans 2 Go Offer Logbook Loans and Other Credit?

They are authorised and registered to offer customers a logbook loan. A logbook loan is a type of secured loan against a vehicle. They do not have any credit card products. 

Don’t always be drawn in by the representative example rates as you may not receive this APR rate. 

Is Loans 2 Go legit?

Yes, they are regulated by the Financial Conduct Authority in the UK. You must be a UK resident to apply.  

Always be aware of charges such as an arrangement fee, payment fee, repayment fee and APR rates. The interest rate you receive can differ from what is advertised. Not many people get the best interest rate available. 

Is Loans2Go a Payday Loan?

Yes, they only provide payday loans.

Find your best debt solution (in 1 minute!)

debt solution

Is all this information starting to feel overwhelming? Don’t panic! I’ve put together a 4 question debt calculator so you can quickly and easily find the best solution for you. If you’re eligible for the new government scheme, you could write off up to 85% of your debt! Answer the four questions now.

Is Loans 2 Go a Direct Lender?

Yes, they are a direct lender which means successful applications will get their money faster. 

How Easy Is It to Make a Loan Application?

Applying for a loan is straightforward online and over the phone, but it will involve a credit check. 

Where Is Loans 2 Go Located?

They are based at the address Bridge Studios, 34a Deodar Road in London SW15 2NN. 

However, you can contact the company number on 0330 400 0403. Their email address is – and you can use their website contact form instead of their email address if you prefer (it goes to the same email address). 

fight back when you get a debt collection letter

The Latest Lending Rules for Loans2go Loans

If Loans2Go didn’t stick to any of the rules listed below, despite being authorised and regulated, you could claim for a refund too! 

Law #1: Loans2Go Must be Affordable

If you want a refund from Loans 2 Go, this is the law which might make your claim successful the most.

The FCA states that loan providers must conduct an extensive assessment of your ability to repay and must not allow you to sign for the loan if they have not done this adequately. The same rules apply if you try to get a credit card or other credit. 

Moreover, your repayment to Loans 2 Go must be “sustainable”, which means you must be able to make payments comfortably while also paying for essentials.

If Loans 2 Go failed to properly assess you for their products, they are breaking this law – and you should be due a refund!

Law #2: Loans2Go Must Place Limits on Fees and Interest 

A Loans 2 Go loan may not be affordable or sustainable if they charge excessive interest and other fees. Their products could cause you serious money worries in the future. 

This is why the FCA has introduced caps to the repayment fee and interest that they can charge.

Here is a breakdown of the law:

  • A total daily cost cap each day of 0.8% on the borrowed amount (including both fees and interest)
  • Default fees are capped at £15, after which default interest is allowed to be charged to the debtor, although it cannot exceed the 0.8% daily cap
  • You cannot be requested to pay more than 100% of the amount borrowed

The above applies to loan agreements with a 100%+ APR rate (most of the company APR rates offered qualify) and those which are to be mostly repaid in one year. 

They may still apply if you are repaying beyond 18 months. 

Moreover, Loans 2 Go must publish their products on an FCA-authorised comparison site, showing the full costs. You can find these comparison results if you search online (and for credit card products). 

If you think Loans 2 Go has charged your account too much of an arrangement fee or interest, you can claim.

You could launch a claim and be due a Loans2Go credit refund!

Moneysavingexpert case study for loans2go

Law #3: Loans2Go and CPA Violations
Loans2Go and other companies may want you to repay your credit with what is known as a Continuous Payment Authority (CPA).
This is approval for Loans 2 Go to take the next installment from your bank. But Loans2Go must inform its customers when this will happen.
Some loan providers fail to notify customers before collection.
The effect of this could be serious. For example, if Loans 2 Go takes the money without warning you and you haven’t paid your rent, you could be in financial hardship.
But there is some good news.
The latest rules state that Loans2Go cannot request money from your bank account via the CPA if two previous attempts have failed.
CPA has further rules. Loans2Go cannot take part of a payment.
Thus, if you can’t pay the full amount, Loans2Go simply can’t collect any money – but don’t forget that late repayment can cause problems too.
If you would prefer them to take some payment, you can give them permission.
If Loans2Go makes two CPA account requests or some of a payment without your permission, they will have broken regulations. If this happens, you could complain and claim for a loan refund!
I Can’t afford My Loans2Go Loan
Loans2Go might have not broken any rules and may have their loan details available on the right comparison results site. If they have complied but you cannot make your next payment, there are steps you can take.
First, cancel any payment instructions with your bank.
It is common for the person at the bank to ask you to tell Loans 2 Go that the direct debit has been cancelled (you might need the reference number to do this).
You do not have a legal obligation to notify them. If you want, you could write to their address, Bridge Studios 34a Deodar Road, SW15 2NN.
This doesn’t stop you having to repay the credit. We get this is scary, but the worst thing you can do now is try and hide.
Late repayment can cause problems but avoiding debt causes bigger problems!
Next, contact Loans 2 Go and explain your money problems. Many times they can help.

writing off your debt

How to write off your debt

It is possible to write off your debt entirely through an Individual Voluntary Arrangement (IVA). This is a formal agreement to pay the debt collectors an amount you can afford as a one-off sum or as monthly payment.

You only qualify for the government IVA scheme if your debts are over £1,700 and you have more than one debt. Fill out a 30 second form to see if you qualify with my 4 question debt write off calculator.

How to write off Loans2Go debt

You might be able to wipe up to 80% of your loan debts with an IVA. 

You must have serious money problems and more than one debt to qualify. To see if an IVA could wipe your Loans 2 Go debt, use our IVA suitability calculator. 

Serious Money problems? Claim Your Refund

First, you’re not alone!

If Loans 2 Go limited has not stuck to the laws and has started to cause you serious money worries, you could be entitled to a Loans2Go refund. 

You could get back your loan amount plus interest and additional charges. 

You’ll need your loan reference number and other key info like the company information registration number to claim. 

Check out this loan refund article which also includes letter templates for help!


CONC 2.1 Application

CONC 5.2A Creditworthiness assessment

CONC 13.1 Application

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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