Logbook loans- instant financial support in emergency
It is not an easy task to purchase home or car in current market scenario. However, few people still manage to get these things easily. Do you know that your car can help you a lot to arrange desire finance? Yes, it is possible. No, you will not loose the ownership of vehicle at all. Basically, you use the logbook or document of car to sponsor a loan amount. Financial market of United Kingdom introduced logbook loans recently for various consumers. It is also known as secured loans against the car or vehicle. Here, lenders lend you funds at time of emergency against the production of logbook of vehicle. This document is also known as car registration document which is issued by Driving and Vehicle Licensing agency.
Now days, people prefer to go with logbook loans over other types of finances due to many reasons. Fast and easy process always attracts many of needy person but we can not ignore the fact that applicant gets low interest rate and APR without pledging the home or property. Under this financial service, a person is allowed to borrow any amount up to £50000. After getting the finance, borrower can still use the car or vehicle for any personal or commercial purpose.
To get the logbook loans in United Kingdom, you have to fulfill these conditions, like
- Car must not be older than 8 years
- Vehicle should be clear of all dues and insurance payments
- Logbook of car should be in the name of loan seeker
- Age of applicant should be 18 years old or more
- Steady income source is must for every person
- Only UK citizens are allowed to borrow funds under this category
- You should have valid and authorized bank account for smooth transaction
Another advantage of this money is that this loan does not involve the lengthy procedure of credit check. It means a person can avail the desired amount irrespective of his/her credit status. So, any individual can obtain finance with minimum effort.
Gerry Parker is an expert author and has more then 7 years of experience in writing finance related topics. To know more about
Article Source: Messaggiamo.Com
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