The danger of being a guarantor

lovemoney.com
Money in back pocket
Money in back pocket

A new loan company is offering loans without credit checks or fees. The catch? You need to persuade someone who owns their own home to guarantee it.

Amigo Loans offers loans between £500 and £5,000 over a one- to five-year period. The loans come with a representative APR of 49.9% and there's no credit scoring, or any early settlement charges, fees, or late payment charges.