(PRWEB UK) 22 May 2012
Logbook loans companies are far from dying and are beginning to expand, according to one of the leading Logbook Loans providers LogbookLoans2go.
A lot of news has been hurtling around the financial sector about how Logbook Loans may be receding as a way in which people loan money. With some mutterings of Government intervention into this kind of loan, some of the leading Logbook Loan companies suggest that their industry is actually growing rapidly and Logbook Loans are becoming more and more of a trusted source of monetary lending.
A spokesman for Logbook Loans 2 go said:
“After the collapse of the banking sector in England the public have called into question just how credible a source banks can be. The trust which people put into the banks has now been heavily diminished and because of this people don’t necessarily feel their best option when it comes to loans is going to their bank anymore.”
With Logbook loans not requiring any form of credit check and the money being transferred into your bank within 24 hours, it is a very tempting proposition and one that the Logbook Loans 2 go spokesman suggests will carry on:
“The trend doesn’t seem to be wavering. People are more comfortable securing a quick loan against their car rather than a loan from a bank which could span across years and be secured against your highest valued asset, your home. Many people are no longer comfortable securing loans against their homes when the banks became so vulnerable during the recent economic crisis and within days people had lost a lot of their assets because of it.”
As well as the increase in Logbook Loans here in the UK it seems that a lot of companies are looking to expand their business into other countries due to the popularity of this type of loan, the spokesman continued:
“Over the next few years we will be looking to expand into other English speaking regions such as the USA and Australia and I believe a lot of other UK based Logbook Loan companies will follow suite to capture further markets. It wasn’t just the UK that was hit by an economic downfall and we believe by expanding to other countries we can give the people a service that will tender to their financial needs.”
Logbookloans2go is a secured lending company that specialises in securing quick and easy loans against your vehicle. The company was established in the UK to help customers secure loans quickly and easily and without the need of a credit check. The loans are repayable over a flexible amount of time at a very competitive rate of interest. For the duration of the loan the company will hold your vehicles Logbook as security. Upon repayment of the loan the Logbook will be returned to the customer.