When it comes to trying to get a loan, bad credit can be a real hassle and most alternatives for a bad credit secured loan take more time than they should. There is one bad credit loan option in the UK that can get your cash in as little as 24 hours, without ever doing a credit check.

Most of the population that need financial assistance in some way have problems with bad credit ratings. It seems like the answer is “no” for anyone asked to help and in most cases, getting a loan to cover life’s bigger expenses can be a long and troublesome process. This is why logbook loans have become the most popular form of bad credit secured loan in the UK. By using a vehicle as collateral on a loan and having proof of being able to make weekly payments, no credit check is needed for bad credit loans from as little as ₤400, and up to as much as ₤50,000 for the bigger expenses in life.

The one small issue of not performing a credit check is that the interest rates for these loans are higher than those of a more traditional loan venue, such as a bank. Banks, however, perform credit checks and have certain standards that do not allow them to loan money to just anyone. By expressing the interest rate in term of representative APR, customers know how much real interest their bad credit loan will generate each year, based on the loan itself plus any processing fees charged on our part. It is an all-inclusive interest rate for each year, therefore more accurate in comparison to other bad credit loan companies.

These loans are any purpose, which means anyone with a car and a regular source of income can obtain a bad credit secured loan to pay for whatever they want. It could be used to purchase another car or make a payment or two on the mortgage. It can be used for paying for the tropical holiday that you have been promising yourself for the last five years. The money can be spent wherever the client wants to spend it, with no restrictions. The value of the loan depends on how much the vehicle is worth and how much the client can pay each week.

Applying for a bad credit secured loan is straight forward and can easily be set in motion by completing a simple online form. After contact with one of the many UK representatives to ascertain the value of the car and the needs of the client, an agreement is made and a bill of sale is issued. This registers the agreement of using the vehicle as collateral for however much the loan is worth with the High Court of London, which ensures both sides apply to the agreement and the loan is paid fairly. Money can be delivered straight into a bank account, written out as a cheque, or even given as cash by the representative if the situation calls for it. Apply instantly online for your bad credit secured loan at one of the few bad credit loan companies in the UK that does not perform a credit check.
We hope you have learned a lot about applying for a Bad credit secured loan http://www.logbookloans.co.uk . We are Bad credit loan http://www.logbookloans.co.uk experts, and would be very glad to help you.