Late lender repayments

AMIGO has seen a jump in customers falling behind on their payments.

At the end of last year, the high-interest lender was owed £102.8m by borrowers who were paying late, up 64pc on 12 months earlier. A total of £25.5m was owed by customers more than two months behind schedule, up from £13.6m. Amigo targets those with a poor credit record, offering loans at 49.9pc interest where a friend or family member steps in to repay if the borrower fails to.

It made a £62.5m profit in the nine months to December 31, up 63pc on the same period in 2017.