Apply to borrow from 100 to 25000*
- Instant Decision
- 60-Second Application Form
- From £1,000 to £25,000
- Rates from 5.7% APR to 278% APR*
- 3-36 month repayment
Apply to borrow from 100 to 25000*
- Online decision
- Responsible lenders
- Apply to borrow up to £3000*
- Rates From 278% APR – 1576% APR*
- 3-12 month repayment
What Are Unsecured Loans?
Even without collateral to pledge, there are still options to choose when applying for a loan. For loans without security deposits, these types of loans are considered unsecured. Unsecured loans allow borrowers to request for funds without giving up an asset as a security deposit. Personal loans, payday loans, credit cards, and student loans are just some examples of an unsecured loan. It is a very convenient source of funds without having to deal with the complicated approval process. However, these types of loans are often accompanied with higher interest rates.
How will MY
To apply, you don’t have to leave your homes or travel miles. The process is amazingly fast and secure. All you need to do is to fill up a form online. In as fast as two minutes, you can have the result of your application without waiting hours in long lines. Your personal and banking information is safely secured.
Paid Into Your Account
Once approved, the borrowed funds are immediately sent to your checking account. No fuss, no hassle. In just minutes, you get the money that you need without going through complicated requirements and documents. A perfect solution for emergency situations.
Your credit problem is never a problem with us. Even with bad or poor credit, you are still eligible to take advantage of our services. Our lenders offer cash assistance without the need for you to undergo a credit check. If you can pay the loan on the agreed schedule, your credit line will never be a problem.
- WHAT ARE PAYDAY LOANS
- HOW DO I APPLY?
- MUST I HAVE A GUARANTOR?
- WHAT’S IN IT FOR US?
- HOW LONG DOES IT TAKE TO GET PAID OUT?
A PAYDAY LOAN IS A TYPE OF CREDIT THAT IS SUITABLE FOR WHEN EMERGENCIES OCCUR
If you find yourself stuck in the middle of nowhere with no money in the bank and no cash on hand, the best thing that you can do is to apply for a payday loan. Payday loans are easily acquired and don’t require complicated documents, making it the best cash assistance fund during emergency situations.
- WHAT ARE GUARANTOR LOANS?
- WHAT ARE LOGBOOK LOANS?
- WHAT ARE PERSONAL LOANS?
Services We Provide
Long Term Loans
Getting a loan is a difficult endeavor when you have a bad credit score in the UK. It even becomes harder when you do not have any collateral to give and therefore all you are looking for are unsecured loans. However, if you have a car, which most people do then you can be able to secure yourself logbook loans.
Many lenders like to lend to borrowers who are not high risk. To qualify as a successful borrower for many banks, you are supposed to have well to excellent credit score. However, you might still find that the banks will deny you a loan even with a good credit score. There are many parameters that go into the criteria banks use to qualify and approve their borrowers.
The best way to improve your chances of getting a loan from a bank or any other lender even when you have bad credit is taking a secured loan. A secured loan is any type of loan where you use collateral against the loan. The collateral could be anything from car logbook, property title, equity to your home, CD account, bonds, shares, paycheck and investment accounts amongst many others.
When acquiring a loan through collateral, the lender takes possession of the collateral and holds it until you have cleared paying the loan. After you are done paying, you get back what had been taken and you own it fair and clear.
The amount of loan you can get on collateral depends on the value of your collateral. The higher the value of your collateral the more money you can get. However, many lenders will not give you the exact value of your collateral. To determine the value of your collateral can be easy as reading the bank account balance or it might involve getting the item appraised to learn the value.
After the collateral has been appraised the loan to value ratio (LTV) is used to determine how much money you will get from the lender. The LTV is amount you are eligible for divided by the value of your collateral. From this the lender is able to determine how much you can get for your collateral.
What is a logbook loan?
A logbook loan is a short term loan offered with your car as collateral. The main disadvantage of the logbook loan is that if you fail to make your payments for long as required, then you can lose ownership of your car completely.
To get a logbook loan you must be the registered owner of the vehicle. Before you head on to get logbook loans first figure out how much money you need. This will prevent you from borrowing and paying interest on money that you did not need. Also ensure that you know who long you need to repay the logbook loan UK. The duration also determines the monthly payments you will have to pay.
It is also imperative that you have your car valued so you already know how much your car is worth before you apply for a loan. Knowing that will help you to determine which lender is offering you a good deal on your car.
How do logbook loans work?
You can get logbook loans easily on the internet from direct lenders such as Loansgreen. You will be allowed to borrow about 50 to 60% of the worth of your car. Most lenders will not go beyond 60% for logbook loans because the car depreciates in value.
Further because of the depreciation of the car in value overtime, logbook loans UK are short term loans. Being short term loans therefore means that they also come with high APRs and the monthly repayments will also be high. You are therefore required to make sure that you can afford the loan before you apply for it.
After you have found the right lender then you will enter into an agreement with them. You will be required to hand over your logbook or the V5C certificate that proves you are the registered owner of the vehicle.
For residents in Wales, England and Northern Ireland you are also required to sign a form called the bill of sale which is a credit agreement between you and the lender. This indicates that you have given temporarily ownership of the vehicle to the lender of the logbook loan.
The lender offers the loan after you have agreed on the terms and then you will make monthly payments on your loan until it is cleared. During the duration of the loan, you will still be using your car as usual. With some lenders, a black box is installed in the car and when you are unable to make your monthly payments the car is disabled so you are unable to use it.
Log book loans for older cars
What happens if you have an older car? An old car has a lot of wear and tear and therefore it has less worth than a newer car. This is unless you have a restored classic car. It is possible to get logbook loans on an older car especially from direct online lenders. However you should note that an old car cannot get you so much money and the loan will be very short term.
If your vehicle is a classic or a vintage vehicle then it might have gained value due to its rarity. In such a case, you can be able to get a good amount on your old vehicle. The same is true if your vehicle is well maintained and in superb condition. However for most lenders they need to see your old vehicle to see the condition it is in.
Besides the condition of the vehicle, the mileage is also considered. Older cars have high mileage which necessitates regular maintenance and checkups to keep the car in superb condition. If you have an older car, having maintenance reports for your vehicle will go a long way to show that it is well maintained and working great.
With a cash converter logbook loans you can be able to get a good short term loan on your car so you can sort out any emergencies you might have. The good thing about a logbook loan it is a personal loan and therefore you are not limited to how you can use it.
If you have found yourself requiring a logbook loan, then chances are you have bad credit. If you are able to repay your logbook loan with the lender as required then chances are very high that you will qualify for an unsecured loan with the lender. You can get an unsecured loan, for instance, payday loan, cash advance loan and other loans where you are not supposed to place any collateral.
Paying your logbook loans as required also raises improves your credit score and you can be able to borrow more and with better terms in the future. With a logbook loan you are allowed to repay more than the monthly repayment. You are not charged for repaying your loan early.
How to check for logbook loans?
With logbook loans, no credit check is required. This means therefore that they are ideal for people who have bad credit and therefore unable to access other loans. Cash converters logbook loans are also ideal for people who want quick loans and need money now.
Online lenders like Loansgreen usually offer logbook loans in just a matter of minutes. There is a simple three step process involved where you fill in a form online, your details are confirmed, your loan approved and money is sent to your account.
Usually the approval for the loan is sent to your via email and then you might receive a call about the same from many lenders. There are no complications when it comes to getting a logbook loan or checking for them.
There are many lenders offering online logbook loans and therefore you have a wide array of lenders to choose from. It is therefore imperative that you do some due diligence on your end to ensure you are getting the best terms. Not all lenders will offer the same terms. Different lenders will offer different amounts for the value of your car.
You should also check on the APR when borrowing the loan and how many months you are getting to repay it. It is possible to get anywhere up to £50,000 from most lenders depending on the value of your car and the condition it is in.
Remember that if you are unable to make your required payments then you can lose possession of your car. The agreement you have entered in with the lender allows them to assume possession of your car when you are totally unable to pay. It is therefore important that you only borrow logbook loans UK when you need them.
You can also consider trying out other short term loans that do not involve you placing collateral especially if you have a good credit rating or are employed.