Logbook Loans Finds Use as a Private Mortgage Minus Its Inherent Drawbacks Logbook mortgage is a fairly latest form of loan. In this sort of loan, the borrower has to pledge his/her vehicleÃ'Â's logbook in exchange of the mortgage proceeds. Logbook loans will specially advantage the borrowers with negative credit background. This is because logbook loans do not call for credit score examine. Similarly, logbook loans are accepted promptly. The article supplies much more info on logbook loans.