- Apply for £100 - £15000
- Credit Problems OK
- Non-Homeowner Guarantors accepted
- Multiple Loan Options
- No Fees or Charges§
- Can be paid within 24 hrs
Amigo Loans is the UK's leading provider of guarantor loans. Although the business started in 2005 it was only when it rebranded to its current name in 2012 and started advertising on TV that it became well-known. While it is the best know lender in this sector it is not necessarily the most competitive nor the most innovative. You may find other lenders offer you a better deal - use our free enquiry service to see which lenders could help.
Amigo Loans believes that the old fashioned values of trust and relationships should have more value when determining whether to offer a loan than simply relying on a computer credit score. Their guarantor lending model is based on this principle. Before lending you money they will talk to both you and your guarantor to ensure that everyone understands the part they are playing. And of course like all other lenders they are obliged to treat the customer fairly at all times.
|Representative APR||Loan Term (months)||Loan Amount (£)||Instant decision||E-signature available|
|49.9%||12 - 60||500 - 10,000|
|Representative Example: Borrow £3000 for 36 months. Repay £146.37 each month. Total interest of £2269.32. Total repayable £5269.32. Representative APR 49.9% (variable).|
Amigo Store is a reaction to the high charges some weekly payment companies levy for providing domestic goods (such as TVs & computers) on credit. With Amigo Store you can shop for your goods online and pay for them at the till with Amigo credit so saving significant sums.
A guarantor is someone known to the borrower who will make the required payments to Amigo Loans if for some reason the you, the borrower, do not.
From your point of view you need to make sure the guarantor trusts you and because this is so important it means that the guarantor is likely to be a family member or a very close personal friend.
From Amigo's point of view they will need a guarantor who satisfies the following criteria:
Amigo Loans says a suitable guarantor is someone who:
Use our free enquiry service to see which lenders will lend to you in principle. We'll be able to tell you if Amigo Loans is one of these and if not we would expect to show you some alternatives.
If Amigo Loans does accept your enquiry you can continue the application process online to provide them with further information. If all goes well then they will call you and your guarantor to go through the terms of the loan and to ensure that you can both afford the loan (the guarantor as well in case you are unable to meet a repayment).
Once all the checks have been passed your loan will be paid out into your guarantor's bank account (this is done to reduce the risk of fraud) within 24 hours (or 48 hours if applications were completed off line).
If your application is completed 100% online and all checks are completed without a problem then you could get your loan within 24 hours. Most loans are paid out within 48 hours. What could slow down the payout?
You certainly can and Amigo Loans will not charge you any fees for doing so. The benefits are very clear - because interest is charged on a daily basis if you pay off a £1 today then you will instantly stop being charged any interest on that £1. So, you only pay interest on the actual period you have borrowed that £1.
If you have set up a direct debit to make your repayments these will be taken as normal, but a quick phone call to Amigo means you can amend your repayments in light of any early payments you have made.
Amigo Loans has made these promises in case you were to fall into arrears. They will:
Discover in this video what James Benamore, the Founder of Amigo, feels about providing a personal service at a human scale.
When it comes to getting you your guarantor loan our online service is second to none. In fact Solution-Loans.co.uk has scored based on 152 ratings & 23 user reviews for its guarantor loans service.
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