Hi folks,

Sorry to be more of a pain but more advice on the following.

Done an hpi check on my car which throws up a "chattel mortgage" with logbook loans but I have found that a chattel mortgage isnt valid in Scotland.

Here is the info and any advice going forward would be appreciated:

Outstanding finance

Recorded against

VRM

Description

x

Date

x/x/2010

Finance house

LOG BOOK LOANS LTD

Finance house telephone

0870 033 9530

Agreement reference

xxxxxxxx

Agreement type

Chattel Mortgage

This is a complicated area of lending and is sometimes referred to as a 'Bill of Sale'. A Chattel mortgage might give the finance company right of ownership over the vehicle and you would be advised to make further enquiries before purchasing.

Now if this is classified as a chattel mortgage,I found the following statement on IFS Financial

Chattel Mortgages

A chattel mortgage is a type of fixed charge taken over identifiable and moveable assets such as plant and machinery. Chattels are defined as any property other than freehold land. Chattel mortgages are normally only available if the customer is a corporate body in England and Wales (Scotland does not recognize them except for ships or aircraft).

Hi folks,

 

Sorry to be more of a pain but more advice on the following.

 

Done an hpi check on my car which throws up a "chattel mortgage" with logbook loans but I have found that a chattel mortgage isnt valid in Scotland.

 

Here is the info and any advice going forward would be appreciated:

 

Outstanding finance

 

Recorded against

VRM

Description

x

Date

x/x/2010

Finance house

LOG BOOK LOANS LTD

Finance house telephone

0870 033 9530

Agreement reference

xxxxxxxx

Agreement type

Chattel Mortgage

This is a complicated area of lending and is sometimes referred to as a 'Bill of Sale'. A Chattel mortgage might give the finance company right of ownership over the vehicle and you would be advised to make further enquiries before purchasing.

 

 

 

Now if this is classified as a chattel mortgage,I found the following statement on IFS Financial

 

Chattel Mortgages

A chattel mortgage is a type of fixed charge taken over identifiable and moveable assets such as plant and machinery. Chattels are defined as any property other than freehold land. Chattel mortgages are normally only available if the customer is a corporate body in England and Wales (Scotland does not recognize them except for ships or aircraft).

As i said in a previous post, they are not valid in Scotland. My advise is go see a Sol, give them the info, ask him to send a letter insisiting that they drop chasing you and your car, remove the marker and any attempt to cease the car would be acted on, have a copy for your records. Ask the Sol about unjust enrichment in scots law...

Keep in mind that they "think" they have the law on there side.

Trooper68