Ramsdens branches have added Logbook Loans to their expanding list of services. Logbook Loans were rolled out throughout the Ramsdens network in April 2008.

Logbook Loans (LBL) have been operating in the UK for over 6 years. They afford customers the ability to raise cash quickly and easily by securing their loan against a vehicle that the customer owns. This product appeals to many customes in a period where more and more lenders are tightening their respective lending criteria. LBL simply retain the customers Logbook for the duration of the loan and return it to the customer once the loan has been completed.

The customer has 100% use of their car as the loan only requires the holding of the Logbook, meaning that this loan is a very fast and convenient way for car owners to get between £500 and £50,000 cash. The loan period is 58 weeks but can be settled earlier. The customer is in charge of this flexible loan facility.

Peter Kenyon CEO commented "Ramsdens are very proud to offer Log Book Loans to our customers, the facility works along the same lines as a pawnbroking loan but uses the car as security rather than gold meaning that the service has fit in very well alongside Ramsdens other offerings."