Hermes Property Services Ltd is one of the largest providers of ‘logbook loans’.
A logbook loan is a loan secured against the customer’s vehicle which allows the borrower to release the equity in their vehicle without having to sell it.
Applications can be made online or over the phone and the loan concluded at a face-to-face appointment local to the customer where affordability is assessed in detail. If the customer meets its lending criteria, funds can normally be advanced within 24 hours of application.