There are number of financial institutions working for the debtors or the people in need of financial help. UK has a huge economic, yet people sometime fall in the trap of debts and then end up with the loss of the property of even the precious asset as well. The lack of information and misguidance sometimes take them to the place; where they end up with the series of debt. However, there are number of services which are helping people of UK to pay off their loans in easy and quick way. Personal loan, guarantor loan, pay day loan and many other exist in the market and indeed there are helping people in financial burden. One of the widely accepted and most reliable services in the UK is logbook loan. Logbook loan is the service that helps the people of the UK to pay off their debt in a quick and easy way. This loan is a form of secured loan where the borrower has peace of mind about his asset; which is vehicle and on the other side h/she has not to worry about the usage of the loan as well.
Log book lender is one of the reputed financial institutions that operate under Financial Conduct Authority (FCA) regulation and they have the authority to deal with the logbook loans and hence can reimburse the loan against the vehicle. As the name suggests that the logbook loan is secured against the logbook of the vehicle. Having said that the vehicle will be under the possession of the principal owner but the logbook will be with the lender, till the time all the loan is paid off. Logbooklender.co.uk works on very professional and ethical parameters; they have a team of professional which ensures that all the necessary information is passed to the potential borrower before the ‘bill of sales’ is signed.
Logbook lender works in a systematic way; whereas upon the inquiry the service advisor reaches the customers in a day’s times and check the worth of the car. They access the car condition, worth and the working conditions and then the loan amount is decided. Before that the customers can check their eligibility for loan on the website or they can visit the registered office any point of time. For a logbook lender one must fulfill the criteria like:
- Must be above 18 years or older
- Must be a UK resident
- Must own the car
- Preferably no finances for the car
- Must have a proof of identity, address, and income.
- Documents related to vehicle like vehicles V5 document, details of insurance and an MOT certificate.
Once all the criteria is meet, and the car value is calculated one can read the terms and conditions and then the logbook is handed to the lender. Service advisor from logbook lender explains all terms and conditions for repayment, cancellation and the way the loan will be processed. They also ensure that the borrower is aware of the loan repayment and related legal implications as well. Hence one can get the quick loan with very less processing time and documentation as well.