Amigo Loans

Please be aware that Amigo is currently not lending! For details and alternative loan options see below.

Amigo Loans

Guarantor Loan

Amigo is no longer giving out new loans

On 23 May 2022, the High Court approved Amigo’s proposed New Business Scheme of Arrangement (which had previously been approved by Customer Creditors on 12 May). The Scheme became effective on 26 May 2022. If you’re a past or present customer who thinks they have a claim, you can now submit your claim online. You can do this on their website here.

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Allcreditloansnet Representative 49.9% APR

Representative Example: Borrow £3,250 over 36 months at a Representative Rate of 49.9% APR at an annual interest rate of 41.16% (fixed), you pay 36 instalments of £158.57. Total charge of credit is £2,464.57, total amount payable £5,714.67.

What does representative APR mean?

About Amigo Loans

Amigo Loans were one of the first lenders to popularise the ‘guarantor loan’ and were the most well known in the guarantor loans industry.

On 23 May 2022, the High Court approved Amigo’s proposed New Business Scheme of Arrangement. If you’re a past or present customer who thinks they have a claim, you can now submit your claim online. You can do this on their website here.

Update on the FCA website 13/10/2022

The FCA has published a letter sent to Amigo Loans which approves its request to start lending again, on a pilot basis.

Watch this space!



Questions

As of writing Amigo Loans has not gone bust. Amigo Loans was banned from lending in May 2021 by the Financial Conduct Authority, and Amigo has said it will go bust unless it is allowed to start lending and raise new equity under a proposed new rescue plan.

Amigo specialised in ‘guarantor loans’, their previous loan* features:

  • Type: guarantor loan
  • Amount: £1,000 – £10,000
  • Term: 12 – 60 months
  • APR: 49.9% representative

* We have no details currently on any future loan details from Amigo.

On 13th October 2022 the FCA published a letter on their website which approves Amigo’s request to start lending again on a pilot basis.

The lending pilot will enable Amigo to test its updated approach, policies, and procedures in a controlled environment and demonstrate that its new systems and controls meet our expectations and deliver good outcomes for consumers.

FLM Loans are Amigo Loans – in April 2012 they were rebranded as Amigo Loans.

No.

Amigo is one of a number of lenders who are no longer on our panel for a variety of reasons, others include:

Doorstep Loans

  • Provident Personal Credit – the Provident business was closed on 31st December 2021 so is no longer lending.
  • Greenwood Personal Credit – never directly on our panel, Greenwood Personal Credit was acquired by Provident in 1977, and as above has closed and is no longer lending.
  • Shopacheck – never directly on our panel, Shopacheck was acquired by the Perpignon Group and merged with Morses Club in March 2015 (who are on our panel).

Guarantor Loans

  • Buddy – has gone into administration and is not lending.
  • FLM – the old name of Amigo Loans.
  • TFS – has gone into administration and is not lending.

Company Info


Companies House Info


Co Reg No: 04841153

Website: amigoloans.co.uk

Address: 118-128 Commercial Road, Bournemouth, Dorset, BH2 5LTB

FCA Registration


FCA Ref No: 708284

Firm Name: Amigo Loans Ltd

Principal Place of Business: 118-128 Commercial Road, Bournemouth, Dorset, BH2 5LTB, UNITED KINGDOM

Data Protection Info


Reg No: Z8738456

Data Controller: Amigo Loans Ltd

Address: Nova Building, 118-128 Commercial Road, Bournemouth, Dorset, BH2 5LT

Other Names:


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