Alternatives to Amigo Loans

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Lender Ratings & Verdict

Amigo Loans scores 4.6 out of 5 based on 23,000 reviews on TrustPilot. This score puts Amigo squarely in the middle of the pack of guarantor lenders.

Amigo vs Other Lenders

We've chosen to show the key differences against the "typical" or "average" guarantor lender:


  • The same APR% regardless of loan size and loan period which could be an advantage if you need a smaller loan for a shorter period.
  • Full online account management (inc. via app) is available unlike some other lenders.
  • Online application process is relatively fast.


  • There are 8 lenders with a lower APR% available dependent on loan value and duration.
  • The maximum loan size of £10,000 is lower than many.
  • Average customer rating is marginally lower.

Compare Amigo Loans to other Guarantor Loans

Amigo Loans' representative APR is 49.9%, but we have lenders who offer guarantor loans starting at 29.9%. As a broker with access to multiple lenders we may be able to find you loans like Amigo's at a lower rate. This calculator uses our representative APR is 39.9% to help you estimate monthly repayments.

Estimated Repayment

Monthly Payment:
Total Repayable:
Representative APR:
39.9 %

Your actual APR will depend on: your loan amount, the lender you choose, if your guarantor owns their home, etc.

Less than perfect credit accepted

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Representative Example

Borrow £3,000 for 36 months. Representative 39.9% APR fixed. Monthly payment £144.16. Annual interest rate 34.05% fixed. Interest payable £2189.76. Total repayable £5,189.76.

About Amigo Loans

Amigo Loans is the UK's largest guarantor loan lender. The brand started in 2012 but the business goes back even further to the advent of guarantor loans in 2005. Through the use of high profile TV advertising it has grown rapidly since 2012. By 2017 it had lent £1 billion to consumers. In 2018 Amigo floated on the London Stock Exchange (see It now has over 200,000 borrowers.

It has always sought to provide a slick, simple application process based around leading-edge technology. These days there are numerous competitors in the guarantor loan market and many offer similar levels of service. In fact most offer better financial terms than Amigo so it is worth comparing lenders. 

  • Loans from £500 to £10,000
  • Repay over 12 to 60 months
  • Representative APR 49.9% (variable)

Amigo Loans' Representative Example

Borrow £4,000 for 36 months. Representative 49.9% APR variable. Monthly payment £195.16. Interest payable £3,025.76. Total repayable £7,025.76.


Amigo Loans FAQs


Does Amigo Loans need my guarantor to own their home?


Amigo prefer your guarantor to own their home. But, if your guarantor does not then Amigo may accept them if they have a strong credit score and can demonstrate that they pay their bills on time. We have more information about non homeowner guarantors. You may find other lenders are more flexible about  property ownership.


Can I borrow from Amigo?


You can apply to Amigo so long as you satisfy some criteria: you live in the UK - are aged 18-75 - are not currently bankrupt or on an IVA - can comfortably afford the repayments. You also need to be able to provide an acceptable guarantor. Amigo won't make a lending decision based on your credit rating - this is a trust-based loan instead.


What is Amigo Loans' APR%?


The APR is fixed at 49.9% regardless of the amount you borrow or the length of time you borrow it for. Amigo's rate is a little higher than most other lenders. We work with some lenders who vary the APR so that it is higher for smaller amounts and lower for large amount. So, it could be that for smaller loan amounts (say £1,000 or £2,000) Amigo is a reasonable option. Conversely on larger loans (over £7,500) we could have lenders that offer a lower APR. The lowest APR from any of our lenders in 29.9% for loans over £10,000. If this is of interest then apply here.


How do I repay Amigo?


Repayments are set up using a direct debit and paid on a monthly basis. The amount you repay will be specified by Amigo before you sign any agreement. They will also take your debit/credit card details as a backup in case the direct debit fails. You can also make extra payments (overpayments) to help reduce the balance more quickly, and Amigo won't penalise you for doing this. You can make these payments via their app, by phone, by text or online. You can also make cash payments using one of over 28,000 PayPoint stores.


What if I can't repay my Amigo loan?


The first thing to do is let Amigo know you have a problem. They will always work with you to get things back on track without needing to involve your guarantor although they will always notify your guarantor if you miss a payment. If your account remains in arrears and you and Amigo can't agree on a new repayment plan that works then they may ask your guarantor to step in to help out. This would prevent the arrears from becoming unmanageable.


How will being a guarantor for an Amigo loan affect me?


You will be credit checked before any documents are signed as Amigo needs to know you are creditworthy. But once the agreement is signed and the borrower starts to make their monthly repayments you should hear nothing from Amigo Loans. However, if the borrower is struggling to make payments and then fails to keep in touch with Amigo or defaults then you will be needed to step in. If you fail to help bring the loan up to date then this will be recorded on your credit file too.


Can I pay off my Amigo loan early?


Yes, Amigo Loans is very happy for you to make overpayments or indeed settle the whole loan early. They do not charge any fees for this. So, if you should suddenly be able to pay off a chunk of your loan then that will save you further interest costs and reduce the overall cost of your loan. We'd always recommend doing this if you can afford it.


How fast can Amigo approve and payout my loan?


Amigo aims to payout a loan within 24 hours or the guarantor being accepted. This will depend on what if any documentation is required. Once your loan is approved the money is transferred to your guarantor's account who then passes it to you. Money is paid via your guarantor as part of anti-fraud processes.


How do I apply for an Amigo loan?


You could apply direct but then you'd be missing out on seeing whether you could get a better deal from other lenders. Our free enquiry service can tell you instantly which of the many lenders we work with, including Amigo, could lend to you in principle - and many of these other lenders can offer lower APRs and larger amounts than Amigo Loans. If you'd rather maximise your chances of a guarantor loan then use our enquiry service - no fees, and exactly the same deals as going direct!


Who can be my guarantor for an Amigo loan?


Typically you need to find someone who knows you well enough for them to trust you - this is a form of "trust-based" lending. So with this in mind your ideal guarantor is likely to be: Parents, Brothers & Sisters - Aunts & Uncles - Sons & Daughters - Grandparents - Boyfriend or Girlfriend - Work Colleagues & Friends. Unlike some lenders Amigo will consider people who are financially linked to you, but they will conduct some extra checks. Guarantors can also live at the same address as you. Amigo will need to speak direct to your guarantor as part of the application process.

How to Find Amigo Loans

Office Address: Nova Building, 118-128 Commercial Rd, Bournemouth, BH2 5LT

Office Hours

Mon - Thu: 09.00 - 19.00

Fri: 09.00 - 18.00

Sat: 10.00 - 13.00

Amigo Loans on Social Media


Here's @amigoloansuk page:


Here are Amigo's most recent tweets:


Here's the most helpful video from the Amigo Loans YouTube channel:

Company Information

Company Registration

Amigo Loans Ltd is registered at Nova Building, 118-128 Commercial Road, Bournemouth, BH2 5LT. Company registration number 04841153.

FCA Registration

Amigo Loans is authorised and regulated by the Financial Conduct Authority with firm reference number 708284.

ICO Data Protection Registration

Amigo is registered with Information Commissioner, registration number Z8738456.

Important Amigo Loans Links

Coverage in the Blog

Click here to see Amigo articles

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