Frequently Asked Questions



Frequently Asked Questions

FAQs about logbook loans…

If you can’t find what you’re looking for, get in touch and we’ll be happy to help!

1 Q. Can I get a loan if I don’t have a perfect credit history?

A. Yes, it is still possible for you to get a loan. Each application is treated on its own merits. Our goal is to provide a loan that is both suitable and affordable for you. If we can’t, we won’t lend to you.

2 Q. How soon can I get my loan?

A. We pride ourselves on being able to provide a loan within 24 hours of you applying (subject to suitability and affordability.)

3 Q. Do I need a bank account to get a loan?

A. No. We will just ask you to prove your income and we can pay out the loan in cash. For those without a bank account you can make your loan repayments by paying cash into any branch of NatWest. We also accept payment by postal order and bankers draft.

4 Q. Do you do credit checks?

A. We are a responsible lender so when considering your application we will appraise your financial circumstances which includes carrying out a quotation credit search (also known as a “soft credit search”) which will not affect your credit score. Making payments in full and on time will have a positive affect on your credit history but if you should run into difficulty, please contact us immediately as missing payments will negatively affect your credit history.

5 Q. Can I get a loan if I’m self-employed?

A. Yes. We will ask you to provide proof of income via either accounts, income tax returns or recent bank statements.

6 Q. Do you lend to tenants or non-homeowners?

A. Yes, your residential status will not affect your loan application.

7 Q. How old does my car need to be?

A. Usually less than 10 years old. However we can lend against older cars as well as motorcycles, vans, lorries and motor homes depending on the value of the vehicle. Click Here to Apply or Read More…

8 Q. Can I keep the car during the loan period?

A. Yes, we will just hold onto the logbook for the car whilst you are repaying the loan.

9 Q. Can I pay the loan off early?

A. Yes. If you are considering this, please call us on 01527 910710.

10 Q. How do I make repayments?

A. Most of our customers pay by debit card but we also accept postal orders, bankers draft and standing order payments. You can also pay cash into any branch of NatWest. We can also use “CPA’s” or “Continuous Payment Authorities” (click here for information about CPA’s). We do not accept payments by credit cards, cheques or direct debit.

11 Q. What happens if I can’t make the loan payments?

A. Contact us as soon as possible. The worst thing you can do is ignore the situation. We all go through bad patches and we will do everything we can to help you such as discussing options including payment plans and arrangements (often referred to as “forbearance options”). We also have local branches you can drop in to and talk things over in person. We want to help you and repossession of your vehicle is always a last resort. However, remember our warning: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. YOUR VEHICLE MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR LOGBOOK LOAN. For impartial advice and help with debt click here.

12 Q. What do I do when I need to tax my car?

A. You can just use the DVLA tax reminder or renew the tax online. If you need the vehicle documents just contact your local branch.

13 Q. What happens if you have to sell my vehicle?

A. Selling your vehicle is always the last resort, however if we are left with no alternative or you choose to surrender the car to us, we will try to get the best possible price. Any money raised from the sale of the vehicle above the outstanding loan balance will be refunded to you.

14 Q. What is a ‘Bill of Sale’?

A. A Bill of Sale is what gives us security over your vehicle. For further information click here.

15 Q. What is the FCA?

A. The Financial Conduct Authority (FCA) regulates the financial services industry in the UK. Its aim is to protect consumers, ensure the industry remains stable and promote healthy competition between financial services providers. Mobile Money Limited is authorised and regulated by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS

16 Q. What is the CCTA?

A. The Consumer Credit Trade Association. The Consumer Credit Trade Association audits all logbook lenders who sign up to its Code of Practice. Always make sure your logbook lender is a member of the CCTA so you can be sure of fair treatment from a responsible lender.

17 Q. What do I do if I want to make a complaint?

A. If you have a complaint about any aspect of the service you have received, please contact customer services – our staff will be happy to help resolve any concerns you may have. For more information click here.

18 Q. Need further information?

A. Email info@mobilemoney.co.uk or call Customer Service – 01527 910710.


189.9% APR Representative

If you borrow £1,000 over 18 months at an interest rate of 111.3% per annum (fixed)

you will make 18 monthly payments of £116.31 with a total amount payable of £2093.58.