If you are planning to make a big purchase and do not have big bank balance then are various financial institutions, banks and organizations that give loan against your property. If you want to purchase your dream vehicle then you can borrow funds in terms of loan against it by logloan.co.uk. Logbook Loan is a modern type of loan which is most commonly used in the UK. It has been seen that this type of loan is quite popular in UK these days. It has been seen that maximum people switch to this type of loan rather than connecting with any bank.
About Logbook Loan
Logbook loan is only applicable for purchasing vehicles. You will get logbook loan at quite cheaper rate of interest rather than banks. You just have to fulfill their requirement and eligibility criteria. Before application do take care of your eligibility. With logloan.co.uk you can avail numerous benefits. Few of the benefits are mentioned below, just have a look:
- When you apply for Logbook loan then you will get lower rate of interest especially when you will have good credit history. While loan application credit history plays quite important role. If you have bad credit history then there is lot of chances of non approval of loan.
- Logbook loan do not take much time in loan approval. It will sanction quite rapidly but do take care that your documents are updated, on time and nothing should be left.
These are two benefits which you can avail from logbook loan. Apart from these two you can avail many more benefits which can avail and get your loan sanctioned.
Eligibility for Logbook Loan
Every type of loan has some eligibility criteria. Logbook Loan also has some eligibility criteria which you should take care off. This type of loan is especially fabricated for citizen of UK. Please have a look on below criteria of eligibility.
- Firstly to get eligible you must have a citizen of the UK so that you can apply to this type of loan and get low rate of interest. It is not enough to be a citizen of the UK. While loan application you need to show the evidence of your UK nationality.
- Secondly you need to submit a photo identity proof which is quite important for sanctioning loan.
- While loan application you need to submit the documents of your vehicle which you are planning to purchase. It is not necessary that the vehicle must be insured of secured before while application.
These are few things which you should take care while application of loan. Do get eligible and get your own dream vehicle.
Documents to submit for logbook loan
While loan application does submit few documents which are quite necessary to pass your loan file. Those documentations are mentioned below, just have a look:
- the vehicle’s logbook (V5 document)
- a copy of MOT certificate
- a photo identity proof
- an evidence of your income
- documents of your purchasing vehicle
- a copy of national photo Identity
- evidence of your UK nationality
- an evidence of the current residence
These are few documents which are necessary while Logbook loan application. Apart from these documents there are few more supporting documents required while loan application. Do physical check of your vehicle before loan application because if it is already gone through major damage and its original value is decreased than normal value than it can be problematic while loan application.
To make you dream come true do connect with logbook loan and borrow funds by fulfilling there legal requirements.