Legalities of HP and Previous Owners?

Update on this...

HPI check (done by a local dealer) comes up CLEAR.

However, with somemore digging he has found out that it IS on the reposession list of Log Book Loans. A loan was taken out secured on the bike at approximately the same time as the previous owner sold it.

Log Book Loans know who the current keeper is and have said the baliffs have ALREADY been to his property. No letters, no calls they just turned up!

They have said that they will not chase the person who took out the loan, but are after the asset so although he is completely innocent my friend will have to hand the bike over.

It doesn't look good at the moment. Seems he has been well and truely stitched up by a 'freind'.


I have suggested that he strips it and tells them he crashed it and hasn't got it fixed yet. At the very least all his mods (including a Datatool alarm) need to be taken off.

Surely you can't secure a loan on something you don't own, must be a legal issue there?

If not, I might be down to logbook loans and be moving out of England in a week.

Just been onto their website...

one of the conditions is...."Are you the legal owner of the car?" (I assume vehicle)

I'd argue either he wasn't, or if it was just before he sold it, he took the loan out knowing he was going to sell the bike.

Just an aside....

Loan Amount Weekly Repayment Loan Term APR Total Repayable
£1,500 £53.60 78 weeks 437.4% £4,180.80

Example taken from their website. Crazy?

Originally Posted by EssexDave

Just been onto their website...

one of the conditions is...."Are you the legal owner of the car?" (I assume vehicle)

I'd argue either he wasn't, or if it was just before he sold it, he took the loan out knowing he was going to sell the bike.

Just an aside....

Loan Amount Weekly Repayment Loan Term APR Total Repayable
£1,500 £53.60 78 weeks 437.4% £4,180.80

Example taken from their website. Crazy?

Bargain that got there phone no,lol.
I reccon anyone taking out a loan from them would have no intention to repay it.