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Amigo

Amigo boast that they make borrowing available to people who may have a poor credit score. They do this through the provision of guarantor loans.

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Loans displayed have term lengths between 6 months and 5 years, and 49.9% APR.

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APR Total repayable

The amount is based on monthly compounding and for comparison purposes only.

Monthly repayments

Amigo Guarantor Loan

  • Funds available in 24 hrs
  • Home owner and tenant guarantors are accepted
  • No repayment fees
More info
49.9% APR Representative
£7,026.48
£195.18 repayable per month
Can I get this loan?
Please make sure you at least meet the following criteria:
  • UK resident (including Northern Ireland)
  • Aged 18 to 75
  • Any credit quality
  • CCJ allowed
  • Bankruptcy or IVA are not accepted
  • Any income including benefits is accepted but subject to affordability

Additional criteria for acceptance from the lender may apply.

Assumed borrowing of £4,000 over 36 months at a fixed rate of 49.9% per annum would result in a representative rate of 49.9% APR, monthly repayments of £195.18 and a total amount repayable of £7,026.48.

Amigo Guarator Loan For Debt Consolidation

  • Funds available in 24 hrs
  • Home owner and tenant guarantors are accepted
  • No repayment fees
More info
49.9% APR Representative
£7,026.48
£195.18 repayable per month
Can I get this loan?
Please make sure you at least meet the following criteria:
  • UK resident (including Northern Ireland)
  • Aged 18 to 75
  • Any credit quality
  • CCJ allowed
  • Bankruptcy or IVA are not accepted
  • Any income including benefits is accepted but subject to affordability

Additional criteria for acceptance from the lender may apply.

Assumed borrowing of £4,000 over 36 months at a fixed rate of 49.9% per annum would result in a representative rate of 49.9% APR, monthly repayments of £195.18 and a total amount repayable of £7,026.48.

Warning: Late repayments can cause you serious money problems. For more information see our debt help guides.

uSwitch Limited is a credit broker, not a lender, for consumer credit products. Our services are provided at no cost to you, but we may receive a commission from the companies we refer you to. For some loans a broker fee of up to 12.5% may be added to the cost of the loan.

About Amigo

Amigo proudly boasts that they offer ‘new, old fashioned loans’. By this, they mean that they make borrowing available to people who may have a poor credit score, or no history, meaning that they can find it difficult to get a personal loan from traditional sources such as banks or building societies.

They do this through the provision of guarantor loans. Amigo Loans Limited are part of the Richmond Group, and are regulated by the Financial Conduct Authority, with registered offices in Bournemouth, Dorset.

There are many factors that companies take into consideration when deciding whether to provide a personal loan to a customer. These include whether they are a home owner or not, what their annual salary is, and what the loan is to be used for. It’s also common for a credit score to be used as a major determinant.

If a customer hasn’t had a loan, mortgage or credit card in the past, then their lack of credit history can make it hard to obtain one. If they have borrowed before, but made late payments, or missed payments, then this can seriously affect their credit score for years to come. Amigo uses a guarantor system to let such people have access to the funds that they may need.

Amigo doesn’t rely solely on computers and algorithms to make lending decisions, they also use the human element. Before making a loan, their team call and speak to both the applicant and the guarantor.

The guarantor must know the applicant personally, and be confident in their ability to pay back the loan. If the borrower becomes unable to pay the loan back, then the guarantor has to step in and pay it. For this reason, the guarantor themselves has to have a good credit history. Up to £5,000 can be borrowed, and the borrower can pay the loan off early, or pay extra amounts, without incurring any penalty.