Amigo Loans £1,000 to £10,000

Amigo's online reviews from TrustPilot, Redies & ReviewCentre

Update: due to Corona Virus, Amigo is pausing lending to new customers, click Get Quotes to find the lenders who're still active.

Updated by Jon Edward at

Recent reviews for Amigo

4.7 / 5 from 20,198 online reviews

Amigo Loans were one of the first lenders to popularise the guarantor loan, see a below a selection of recent online reviews, most are positive, but we include others for a balanced view

Formerly known as FLM Loans, Amigo is one of the only lenders to have an online account management system, so once you have a loan with them you can log in to make payments and see the up to date status of your account.

As all loans when you have a poor credit rating, Amigo’s APR costs are higher than you would get from a typical ‘high street’ lender, but compared to others in the guarantor marketplace, their rates are average.

There are other lenders who offer smaller and larger loans, plus wider acceptance criteria, but if you’d prefer to go with the market leader then Amigo is your lender.

Loans from £1,000 - £10,000
Term 12 - 60 months
APR 49.9% representative
See representative example
Rating 82.9 / 100
Time to Apply 1 min 33 secs

Customer Reviews

4.7 out of 5 from 26,817 online reviews

Read Reviews

Loan Highlights

Zero fees

A good credit history is not required

Direct debit is not needed

Your guarantor does not need to be a homeowner

You don't have to be a UK resident for a specific length of time

More features

Minimum Criteria

A guarantor is needed to back your application

Your guarantor will need a strong credit history, or be a homeowner

Your guarantor need to be able to prove a regular income, and loan affordability

If you are unable to make your monthly repayments, your guarantor will be required to do this for you

Fees

Maximum APR 49.5%

Arrangement fee: £0

Early repayment fee: £0

Late payment fee: £0

Frequently asked questions

1

How long does it take to get an Amigo loan?

They aim to payout within 24 hours of your application and the guarantor being accepted; often this is quicker 😀

2

How long do Amigo’s final checks take?

In as little as one hour’s if ⏲️

  • Amigo are able to speak to your guarantor when they call.
  • The property your guarantor owns is not in Scotland or Ireland (address checks take longer).
  • The information they've requested is available, such as proof of ID or a bank statement.
3

Do Amigo pay out on a Saturday, Sunday or Bank Holidays?

They do not 👎

Payouts are Monday - Friday 9am to 5pm

4

Will Amigo need to call me or my guarantor?

They may need to depending on your circumstances 📞

  • If they do, will aim to do this within 48 hours of accepting your guarantor.
  • After that, they will only call you if your account isn’t up to date.
  • They will call your guarantor to confirm their details and to arrange the payout.

Pros and Cons

Amigo offer loans from £1,000 up to £10,000, the following summarises the main features.

Pro's 👍

  • UK Residency- It does not matter if you’ve not been a UK resident for a specific length of time
  • Non-homeowner– your guarantor can be a tenant as they do not need to own their own home.
  • Credit Rating- they accept people with a bad credit rating through missed payments, CCJ’s, etc.
  • Direct Debit– unlike other lenders, they do not require you to have a bank account with direct debit

Con's 👎

  • Guarantor– you’ll need to find a guarantor
  • Repayments– if you are unable to make your monthly repayments your guarantor will be required to do so.
  • Very poor credit rating– if your credit history is very bad it’s likely Amigo will require your guarantor to be a homeowner.

The basics ✍️

  • UK Residency– you need to be a resident of the UK
  • Age– at the time of applying you need to be between 18-75 years’ old
  • Affordability– you’ll need to be able to show that you can comfortably be able to make the loan repayments
  • Insolvent- you can't be bankrupt, in an IVA or trust deed (Scotland)

Amigo provides a solid loan offering and we have found them to be responsive and professional; though we would always suggest looking at the other options on the market before making a final decision.

My Verdict

By Jon Edward

Rating - 82.9 / 100

You only have to see the large number of positive online reviews for Amigo to see they are the UK’s number one guarantor loan lender.

  • You will regularly see their adverts on TV, so they are also the best-known lender.
  • With loans from £1,000, the monthly payments can be very affordable.
  • Their online application process is well-tuned, and the customer service team is generally very good.
  • Over 20,000 online reviews cannot be wrong, so if you are looking for a loan, then Amigo is an excellent choice.
Apply to Amigo Loans

Company Info

Companies House Info

FCA Registration

  • FCA Ref No 708284
  • Firm Name Amigo Loans Ltd
  • Principal Place of Business 118-128 Commercial Road, Bournemouth, Dorset, BH2 5LT

Data Protection Info

  • ico Reg No Z8738456
  • Data Controller Amigo Loans Ltd
  • Address Walton House, 56 - 58 Richmond Hill, Bournemouth, BH2 6EX
  • Other Names
    AMIGO
    AMIGO LOANS
    FLM
    FLM LOANS
    FLM QUICK
    HARVEY STURTT
    THE GUARANTOR LOANS
    COMPANY

Amigo Representative Example

Borrowing £4,000 over 36 months, repaying £195.16 per month, total repayable £7,025.76. Interest rate 49.9% (variable). Subject to status.