Applying For A Log Book Loan

A log book loan is meant as an emergency form of loan. It can be used to borrow up to £50,000 depending on the value of your car and your loan requirements, and it can be repaid over the space of up to 7 months. There are a number of benefits to using a log book loan although you should ensure that you have the money available to make the agreed repayments otherwise you do stand to lose your car.
A log book loan does not require any credit checks and is secured against the value of your vehicle. This means that you can apply for one regardless of your credit status and credit history. Even if you have poor credit history you can still borrow the money and use it for any purpose. You do need a UK bank account and you should be in full time employment so that will be able to make the repayments.

You don’t lose your car while you repay the loan. Your car should be fully insured, taxed, and have the necessary MOT, and you can continue to drive your vehicle throughout the term of the loan. You can keep using the car to drive the kids to school and to drive yourself to work. In fact, you can use for whatever you like as long as you keep making the agreed repayments.
If you find that you have the money necessary to repay the loan early, you won’t need to pay any early settlement fees. In fact, because interest is essentially charged daily, the earlier you repay the loan, the less money you pay. Borrowers are actively encouraged to repay the cash as soon as possible because, this way, they will be able to save money and continue to use their car.
The log book loan offers funds which can be used for any purpose. The cash is usually put directly into your bank account and this means that you could have access to the money raised within a few hours, rather than several weeks. Whether you need to pay for a new washing machine or use the money to pay a forgotten bill, you can use it however you like.

LondonLogbookLoans.co.uk provide borrowers with emergency loans based on the value of their car. Borrow up to £50,000 for a period of up to 7 months with a log book loan and, if you repay the loan early, you repay less.