To borrow money up to GBP 50,000 for up to 12 months and maybe without a credit check it is possible if you are a car owner. A logbook loan allows you to borrow money and secure this with your vehicle – so you don’t have to be a home owner to be able to take out these secured loans. Logbook loans are quick loans but considerably cheaper then payday loans. Logbook loans are similar to payday loans in that they should be paid off as soon as possible.
The amount of money you can borrow in the logbook loan is dependent on the value of your car, and usually up to 50 percent of its value can be taken out. Logbook loan lenders will usually accept cars which are not older than 10 years with a valid road fund license and MOT. Borrowers must be at least 18 years old and it will be require that you to live within the country. The vehicle must be registered in your own name.