Logbook loans in Scotland
The process of getting a logbook loan in Scotland is the same like in other countries. However the choice of logbook lenders here is very poor compared to the number of alternatives people have in United Kingdom when choosing logbook lenders. Currently there is only one logbook lender operating in Scotland that is called “Logbook Loans Scotland” although there are many brokers.
Another difference between Scotland and other countries is that it is much more difficult to get a loan in Scotland than it is for example in Wales or England. It is possible that a person who wants to get a logbook loan in Glasgow will be refused or given a very small loan whereas another person with exactly the same financial conditions and similar car value would get a loan in other parts of United Kingdom hassle free. This is because Scotland has slightly different laws and the bill of sale has much weaker power in court than in other parts of United Kingdom.
This is a huge problem for Scottish people who want to take out a loan. In order to take a logbook in England or Wales a person will have to show that he has a legal residence there. A way to overcome this obstacle can be to use the address of a partner living in those regions. What is more, if a person has a house in Wales or England he can use this address and take a loan choosing from more logbook lenders.