Simple Fast Loans Unaffordable Lending Complaints

Simple Fast Loans is a trading name of Loans 2 Go Limited — the same lender behind the Loans 2 Go logbook and personal loans covered elsewhere on this site. It offers unsecured personal loans of £500–£1,500 over 18 months at a representative 450.5% APR. Loans 2 Go Limited (FRN 679836) is FCA-authorised and active, so complaints about Simple Fast Loans borrowing run through the standard CONC and FOS route — and if the loan wasn’t properly affordable for you, the interest can be reclaimed.

Check your agreements on Recoup, our claim partner’s site

About Simple Fast Loans

Simple Fast Loans is not a separate company: it is a brand of Loans 2 Go Limited (company number 4519020, FRN 679836), based at Bridge Studios, 34a Deodar Road, London SW15 2NN. Applications, servicing and complaints all sit with Loans 2 Go.

The current Simple Fast Loans product:

• Unsecured personal loans of £500–£1,500 over 18 months.
• A flat interest rate of around 15% per month — the representative example on its own site is a £999 loan over 18 months at a flat rate of 132% per annum, 18 monthly payments of £165.39, repaying £2,977.02 in total: £1,978.02 of interest on £999 borrowed.
• Representative APR 450.5%.
• Same-day payout, and lending to applicants with “less than perfect credit” — its own words.

That last point matters for affordability complaints: a lender that markets high-cost credit to borrowers with impaired credit histories is required to check all the more carefully that the repayments are sustainable.

The same 18-month structure as Loans 2 Go

The FCA’s price cap on high-cost short-term credit applies to loans of 12 months or less. Simple Fast Loans’ 18-month term places the product outside that cap — the same structure used for the Loans 2 Go personal loan, and one consumer advocates have criticised for its total cost per pound borrowed. Repaying nearly three times what you borrowed is entirely lawful under the cap rules — but the CONC affordability rules and, for lending from 31 July 2023, the Consumer Duty’s fair-value requirements apply in full.

For an affordability complaint the structure raises the same questions as the Loans 2 Go loan:

• Could you realistically sustain repayments of this size for 18 months without borrowing again or missing essentials?
• Was the check proportionate to the cost? At 450% APR, a light-touch check is rarely enough.
• Did the lender rely on declared income and spending figures when your bank statements or credit file told a different story?

Was your Simple Fast Loans loan unaffordable?

FOS decisions about Loans 2 Go — the lender behind Simple Fast Loans — highlight recurring themes that apply to this product too:

• Borrowing while already in difficulty — recent payday loans, visible gambling, or multiple recent credit applications at the time you were approved.
• Checks not matching the cost of the credit — thorough scrutiny is expected before lending at very high rates over 18 months.
• Repeat borrowing and top-ups — a new loan used to clear an earlier one, without the wider position being reassessed.
• Missed vulnerability indicators — financial distress or health issues the lender should have picked up.

If any of that sounds like your situation at the time you borrowed, the loan is worth checking. Our eligibility guide walks through the test.

How a claim works

• Eligibility check on the loan and your circumstances at the time.
• Subject Access Request to Loans 2 Go covering the lending decision data and account history.
• Bank statements (3 months before and 3 months after the loan) — the best evidence of unaffordability.
• Statutory credit report.
• Complaint to Loans 2 Go — the eight-week response window applies.
• Escalation to the Financial Ombudsman if the response is unsatisfactory.
• Redress if successful — refund of interest and charges, Ombudsman interest (Bank of England base rate plus 1%), removal of adverse credit-file entries, balance offset.

Frequently asked questions

Is Simple Fast Loans the same company as Loans 2 Go?

Yes. Simple Fast Loans is a trading name of Loans 2 Go Limited — same company number, same FCA authorisation, same address. A complaint about a Simple Fast Loans loan is a complaint to Loans 2 Go, and its complaint handling and FOS history apply.

I’ve had both a Simple Fast Loans personal loan and a Loans 2 Go loan. Can I complain about both?

Yes, and in one complaint if you want — they are the same lender. Repeat borrowing across the two brands is itself relevant: each new loan should have prompted a fresh look at whether you could afford it, especially if earlier borrowing was being rolled into later loans. See our Loans 2 Go guide for the logbook side.

Is a 450% APR even legal?

Yes. Because the loan runs for 18 months it falls outside the FCA’s price cap on high-cost short-term credit, which only covers loans of 12 months or less. What the law does require is a proper affordability assessment — and that is where these complaints succeed.

How far back can I complain?

Normally six years from the loan, or three years from when you realised there was a problem — and complaints about older loans can still be considered in some circumstances. Our how far back can I claim guide covers the limits.

Related guides

• Personal loans claims hub
• Loans 2 Go unaffordable lending complaints
• The CONC rules on affordability
• How the Financial Ombudsman handles unaffordable lending complaints
• Do I have an unaffordable lending claim?

Check If You Could Be Owed Compensation

You may be eligible to complain if a lender gave you credit you couldn’t afford. Start a free check in minutes — no paperwork needed. No win, no fee if you choose to proceed.

Check your agreements on Recoup, our claim partner’s site