118 118 Money

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Written by:

Cara Bradley

5 minutes mins read

Updated: 2nd July 2024


Little Loans is a credit broker, working with a large panel of responsible lenders.
If you’ve used Little Loans to search for a loan and have been matched with 118 118 Money, you might be curious to find out a little bit more about them.

Who is 118 118 Money?

118 118 Money is a direct lender, established in 2013. They were originally a provider of short-term personal loans and later added the 118 118 Credit Card to their list of products.

You may recognise 118 118 Money from their marketing campaigns and television adverts, which often show two men sporting moustaches and red and white running kits.

How much money can I borrow with 118 118 Money and for how long?

You could apply to borrow between £1,000 and £5,000 with repayment terms from 12 to 36 months.

What Annual Percentage Rate (APR) does 118 118 Money offer?

118 118 Money’s Representative APR is 49.9%, and they state the following Representative Example on their website:

“Amount of credit £2,000 for 24 months. Interest rate: 41.2% pa (fixed). 24 scheduled monthly payments of £123.64. Total amount payable: £2,967.43 Representative 49.9% APR.”

Is 118 118 Money regulated?

118 118 Money is a trading name of Madison CF UK Limited. They are authorised and regulated by the Financial Conduct Authority (FCA), and their company page can be found on the FCA register here.

What do 118 118 Money customers say about them?

As of May 2024, 118 118 Money is rated Excellent on Trustpilot. They have over 41,800 reviews, and 88% of those are 5*.

Who can apply for a loan with 118 118 Money?

You can apply for a loan with 118 118 Money if you:

  • Are between the ages of 18 and 70 years old;
  • Are a UK resident;
  • Hold a current UK bank account and debit card;
  • Are employed or self-employed; and
  • Have a monthly net income of more than £700.

Can I apply for a loan with 118 118 Money if I have bad credit?

118 118 Money state they do consider applications from those with an imperfect credit history.

Will I need a guarantor?

No, 118 118 Money does not require a guarantor when applying for a personal loan.

How quickly will my money be sent?

If approved for a loan, 118 118 Money aim to send your funds within 24 hours, although you should be aware that the time it takes for the money to appear in your account will depend on your bank’s policies and procedures.

How can I manage my loan?

Your loan can be managed through an online account, which you can log into here.
Alternatively, customers can download the free 118 118 Money app from either the App Store or Google Play.

Can I repay my 118 118 Loan early?

Yes, you can. You can request an early settlement quote by calling 02920 548 118.* Your quote will be valid for 28 days.
Should you decide to pay your loan off early, you will be entitled to an interest rebate.

118 118 Money also state the following:

“If you decide to pay some or all of your loan early, if the loan is for a period of 12 months, we are also entitled to charge up to 28 days’ interest or, if it is for a period of more than 12 months, we are entitled to charge up to 58 days’ interest.”

What happens if I miss a repayment?

118 118 Money urge customers struggling with their repayments to contact them as soon as possible on 02920 548 118.*
Late and missed repayments could be charged a £12 fee.

Remember, if you’re worried about money, you can access free advice through organisations and charities such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.

I’ve been matched with 118 118 Money through Little Loans. Who should I contact if I have a question?

Little Loans is a credit broker, not a lender. We’re happy to help with any queries you have in relation to checking your eligibility and searching for a loan; however, any questions regarding the onward journey and the loan itself will need to be directed to the lender.

How can I get in touch with 118 118 Money?

118 118 Money can be contacted in a number of ways:

  • By phone: 02920 548 118*
  • By email: customerservices@118118money.com
  • Via the live chat function in the app.

*Telephone lines are open from Monday to Saturday between 8am and 7pm, or 9am and 5pm on Bank Holidays.

Where can I find out more about 118 118 Money?

Further information can be found on 118 118 Money’s website.

This article was written in May 2024; all information was correct at the time of writing.

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Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender