Useful information on a logbook loan
Posted by juliabennet on June 28th, 2012
Before you apply for a certain type of credit, it is useful to know exactly how much money you need and when you need it. You will be pleased to discover that a logbook loan makes obtaining credit easy and by opting for this type of loan you will no longer have to worry about passing a credit check. With logbook loans you can borrow money, even though you may have a bad credit history, and in doing so, obtain a loan that can deliver an ideal short-term solution. When applying for a UK secured loan you must be familiar with the eligibility conditions in order to be successful in your application.
To begin with, for a logbook loan you will have to have a logbook for your vehicle which is registered in your name. It is also necessary to be able to prove that you have a regular income, have a car which is insured and less than 10 years old, hold a valid MOT certificate for your vehicle, ensure your vehicle is taxed and that it has less than 100,000 miles on the clock. You can apply for a logbook loan with ease. Simply complete an online form and submit it for approval. You will need the vehicle registration, the mileage on the car and the logbook reference number in order to apply online.
It goes without saying that a logbook loan is a short term solution to your cash flow situation and this loan is an excellent option for people who are in need of quick cash and can repay the loan within a short period of time. The logbook loan requires you to use your vehicle as security on the loan. The best part is that you can receive the money on the same day of the application and it is entirely up to you to decide how to use the money. If you have decided to apply for a UK secured loan you should be prepare to answer the following questions: is the car free from other financial commitments, are you the legal owner, do you have a logbook that is registered to you, is the car covered by a comprehensive insurance policy, do you have an MOT certificate for it, are you aged 18 years or older, is the car less than 100 years old, do you have a regular income so that you can afford the repayments of the loan?
We should also mention that this UK secured loan is very flexible and the amount of money you can borrow depends on the value of your car. All in all, a UK secured loan can present numerous advantages, enabling you to receive the loan at the age of 18 years old, imposing no conditions as to how to use the money borrowed and a payment plan that is determined between you and the lender. As you can see, a UK secured loan is the ideal alternative for your cash flow crisis. The application procedure is very simple, it doesn’t require much paperwork and the loan is approved within a short period of time!
If you are in need of a certain amount of money fast and you have no idea where to get it from, you should apply for a logbook loan? This UK secured loan will help you to deal with your financial problems!