Amigo Loans @ www.amigoloans.co.uk

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Amigo Loans (AmigoLoans) today stands as the most popular guarantor loan lender. Amigo Loans via www.amigoloans.co.uk is of course a re-brand of FLM Loans where the “guarantor” brainstorm began in 2004 (although their domain was launched in 2005). This is a company belonging to The Richmond Group with FLM Quick also belonging to them that has been covered in an earlier posting here. FLM Quick was (now closed) a miniature version of Amigo Loans with much larger loans being available here between £500 and £5000. The available terms depend on the amount of cash funded, but the full range is from 12 months to a maximum of 60 months. The interest will be 49.9% APR that is a variable rate. A £1000 loan for 12 months would require a repayment of £1236.72.

This works out at just 23.672% that is a competitive rate as a poor credit loan. Just be aware that this variable rate won’t include a broker fee that will be added to the repayments. The cheap cost is in relation to the requirement of a guarantor. This guarantor must be a UK homeowner with a good credit rating between the age of 18 and 75. The www.amigoloans.co.uk site comes with account management and they use SSL encryption. A major benefit with Amigo is that you can complete the loan process online without having to send documents via the post. They headline a same day payout with no credit scoring (they do credit check for verification). Amigo Loans is of course quickly emerging thanks to their current TV ad campaign.

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