Logbook Lending Limited enters administration

Logbook Lending Limited is still authorised and supervised by us. The firm must still comply with our rules. The Joint Administrators are now responsible for the firm’s affairs and must act in the interests of the firm’s creditors. This includes customers whose items, known as pledged assets, were used as security for pawnbroking loans and are still held by Logbook Lending Limited.

The Joint Administrators are authorised to act as licensed insolvency practitioners by their authorising body (The Institute of Chartered Accountants in England and Wales and the Insolvency Practitioners Association). The Joint Administrators are officers of the court and are required to comply with all insolvency law.

As the regulator of Logbook Lending Limited, we are in regular contact with the firm and the Joint Administrators to help ensure customers are treated fairly.

All existing loan agreements remain in place and will not be affected by the administration. This means customers can continue to make repayments as usual. However, the firm is no longer able to issue new loans.  The Joint Administrators will update customers as soon as possible.

You should contact the Joint Administrators. They will provide details of how complaints and claims will be handled.

If your complaint is already with the Financial Ombudsman Service (FOS) - please contact them by logging into the portal on their website or calling their helpline on 0800 023 4567.

Generally, there is no FSCS cover for consumer credit lenders which includes logbook loans and pawnbroking firms. The FSCS can be contacted directly on 0800 678 1100 or via their website.