Loan Introducer
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog
  • Commercial
  • Residential
  • Secured
  • Short Term
  • Unsecured
Facebook LinkedIn Twitter

Time: 0:0

Amigo Loans goes up for sale

29 January, 2020

By: Jessica Nangle

category: News

0

Amigo Loans has put itself up for sale, BBC News has reported.

Amigo lends to those with a poor credit rating, but is also known for its guarantor loan offering.

The company reportedly controls around 80% of the UK market but has been under regulator scrutiny in recent times.

Loans Warehouse chosen by realrates.com as homeowner loan partner

The FCA issued warnings in 2019 towards the gurantor loan industry by outlining that its risks must be made clearer.

The main complaints have been from borrowers who claim insufficient checks were made to ensure that repayments could be met.

The BBC reports that in an update to the stock market, Amigo Loans stated that it “continued to face a challenging operating environment”.

No approaches to buy the business have been made, but the business is valued at around £323m.

Matt Tristram, co-founder at Loans Warehouse, works closely with Amigo and says it is an “amazing business”.

He added: “We have been partners with Amigo Loans for nearly a decade, and it is one of the businesses we most respect.

“During that time there have been changes to their structure and a previous sale, if it was not in the press our customers and ourselves would never have known.

“Through everything they have continued to be the biggest brand in the guarantor loans market by a country mile, and as a partner it has always been easy to see why.

“Whoever purchases Amigo Loans is buying an amazing business.”

This sale comes after its chief executive Hamish Paton stepped down after five months in December 2019.


Recent News

Evolution Money launches second-charge tracker

08 April, 2021

Loans Warehouse: Business as usual for second charge market

12 January, 2021

Loans Warehouse appoints former OneSavings Bank director

12 January, 2021

Shawbrook increases maximum loan size across second charge offering

12 January, 2021

Comments are closed.

Polls

Will the next six months see an increase in second charge business?

View Results

Loading ... Loading ...
BACK TO TOP

Blog

Blog: Regulation, regulation, regulation

28 January, 2016

  • 0

BLOG: The need to shop around

27 October, 2015

  • 0

Experience is everything

28 March, 2013

  • 0

Tags

  • ‘The LM Experience’
  • £50m
  • 1st HomeLoans
  • 1st Stop Group
  • 247Moneybox
  • 360 Lifecycle
  • 75% LTV
  • 85% LTV
  • Aaron Noone
  • ABC
  • Abhai Rajguru
  • Access 4 Finance
  • Access4Finance
  • Accord
  • acquisition
  • Adam Tyler
  • Adelle Rhule-Martin
  • Adrian Moloney
  • Advertising Standards Agency
  • Advertising Standards Agnecy
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog
Facebook LinkedIn Twitter

© CEDAC Media Limited | Terms & Conditions

Advice to readers

While this website is checked for accuracy, we are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions.


© Mortgage Introducer Limited: Our Privacy and Cookies Policy

TPG

www.mortgageintroducer.com
www.investmentinternational.com
www.homebuying.co.uk
www.propertywire.com
www.everyinvestor.co.uk

Close

Enter the site

Login

Password

Remember me

Forgot password?

Login