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Amigo Loans Overview

Amigo

The table below offers all details you need to know about Amigo Loans. It offers personal loans with a guarantor required.

How much will you pay when you borrow from Amigo? Use the Amigo Loans personal loan calculator below to know how much you will possibly pay based on the amount you want to borrow and the payment terms you prefer.

Amigo loans review

Amigo Loans is a direct lender offering guarantor loans to people with good, fair, or even poor credit history as well as those who are self-employed or working part-time. Their guarantor loans can be flexibly used for major or emergency expenses, consolidating debt, or as an alternative to payday loans.

Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.

Amigo loan features

Thinking of applying for a guarantor loan at Amigo Loans? Here are the key features and benefits to expect:

  • Loan amount and terms. Borrow £2,000 – £10,000, payable from 1 to 5 years.
  • Fixed repayments. Pay one amount monthly throughout your loan term
  • Apply online. The borrower and guarantor can have their loan processed all online, hassle-free
  • No arrangement fees. No additional or hidden charges for processing your loan.

How to apply for an Amigo guarantor loan?

Check that you’re eligible:

To qualify, you must:

  • Be aged 21 and not older than 75 by the end of the loan term
  • Be a UK resident or lives within the UK at least 2 months a year
  • Not be on active bankruptcy, Individual Voluntary Agreement, or Debt Management Plan (borrowers discharged from bankruptcy can still apply)
  • Have at least £800 income
  • Justify your ability to repay and pass the affordability assessment

You also need to have a guarantor who must:

  • Be aged 23-75
  • have a UK address
  • Either be a homeowner or have a good credit score
  • Have an income of £800 or higher

What you’ll need:
Besides personal and contact information like phone number and email address, you should also prepare the following when applying:

  • Valid IDs
  • Proof of income (pay slips, bank statements, etc.)
  • Details of your expenses
  • Guarantor’s bank account details

Online application for a guarantor loan can take as fast as 5 minutes.

 

Amigo loans calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

£5,000

Term

3 months

Change
Amigo

Amigo - Guarantor Loans

Amigo - Guarantor Loans
EST Monthly Repayment
£270 Inclusive of fees
EST Monthly Repayment
49.90%
APR
EST Monthly Repayment
12 months
to 36 months
EST Monthly Repayment
£2,000
to £10,000
Go to site
Borrow £2,000 - £10,000 with a guarantor
Amigo

Amigo - Debt Consolidation Loans

Amigo - Debt Consolidation Loans
EST Monthly Repayment
£270 Inclusive of fees
EST Monthly Repayment
49.90%
APR
EST Monthly Repayment
12 months
to 36 months
EST Monthly Repayment
£2,000
to £10,000
Go to site
All your debts in one tidy, affordable payment. With a guarantor loan, you could straighten out your finances and make life simple.
Amigo

Amigo - Loans for Self-Employed People

Amigo - Loans for Self-Employed People
EST Monthly Repayment
£270 Inclusive of fees
EST Monthly Repayment
49.90%
APR
EST Monthly Repayment
12 months
to 36 months
EST Monthly Repayment
£2,000
to £10,000
Go to site
Whether you’re self-employed or starting out, Amigo Loans could be the financial support that takes you further. We don’t mind how you receive your income or even if you don’t have the best credit score. As long as you can afford the monthly payment, and your guarantor has your back, then we can back you too.
Featured
Nationwide

Nationwide personal loans (7,500 - 25,000)

EST Monthly Repayment
£145 Inclusive of fees
Interest Rate
2.90%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £25,000
Go to site
Paying off your debt using a Nationwide loan could give you the chance to take control of your finances.
Featured
Santander

Santander personal loans for £7,500-£15,000

EST Monthly Repayment
£145 Inclusive of fees
Interest Rate
3.00%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£7,500
to £15,000
Go to site
You are eligible if you’re 21 or over and live in the UK permanently, you have a regular yearly income of £6,000+, you are able to make your repayments by Direct Debit, and you haven’t been declared bankrupt, had a CCJ or an IVA within the last 6 years. All credit is subject to status and credit checks.
Featured
HSBC

HSBC personal loans (15,000 - 25,000)

EST Monthly Repayment
£147 Inclusive of fees
Interest Rate
3.90%
APR
Repayment Period
12 months
to 96 months
Loan Amounts
£15,000
to £25,000
Go to site
Make your plans a reality with a personal loan with fixed monthly payments, an instant credit decision, quick access to funds and no arrangement fee.
Featured
Barclays

Barclays personal loans (15,000 - 24,999)

EST Monthly Repayment
£154 Inclusive of fees
Interest Rate
6.80%
APR
Repayment Period
24 months
to 60 months
Loan Amounts
£15,000
to £24,999
Go to site
When it comes to putting your plans into action, it’s personal. And with a personalised loan just a few clicks away, getting things moving could be simpler than you think. Get your loan rate before you apply – without it affecting your credit score.

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Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.

Amigo Loans FAQs

Does Amigo Loans do credit checks on borrowers and guarantors?

Yes, Amigo Loans will run a credit check both for borrowers and guarantors. Borrowers’ credit history will be checked upon application and they will also need to fill out a budget plan. Borrowers with bad credit scores will still be considered as long as they can justify that they can repay Amigo through the budget plan.

For guarantors, a soft credit will also be carried out. This is to ensure they have a good history of paying their bills consistently and on time. This will be done only after the guarantor signed their Credit Agreement.

Who can be my guarantor?

Your guarantor can be a family member or friend who’s capable and willing to back you up and take the responsibility of paying the loan should you not be able to. They should also have a good credit history as the approval of your loan can depend on it.

For Amigo loans, guarantors must also be only residing in the UK (that’s England, Scotland, Wales, or Northern Ireland).

How can I apply for an Amigo guarantor loan?

If you are a borrower, you can simply apply via the Amigo Loans website. You’ll receive a credit agreement which you’ll need to sign. Afterward, you can let your guarantor fill out their part of the application next. Alternatively, you can send them a link to the application.

Amigo Loans will reach out to your guarantor to confirm the details of the loan. Once done, Amigo will complete their final checks and you’ll receive an SMS once the loan is paid out. It will first be deposited to the guarantor’s bank account. They will then need to transfer the sum to the borrower.

Can the borrower fill out the guarantor’s part of the application?

The quick answer is no. Amigo Loans will need to ensure that your guarantor fully agrees on the terms and conditions of your loan, hence they need to fill out the application themselves, and submit additional documents if necessary.

Learn how to ask a guarantor for your Amigo Loan

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Bestloanrates.co.uk provides factual information in relation to financial products. While Bestloanrates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the produc provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Bestloanrates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Bestloanrates.co.uk. Bestloanrates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Bestloanrates.co.uk’s Terms of Use and Services Guide.

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