5 Advantages to Pawn your Luxury Assets with Pawnbrokers London

Are you interested in pawn loans but do not understand them entirely? You are not the only one. People who have never utilised the services offered by trustworthy pawnbrokers London are typically unaware of the real benefits of pawnbroking. Although pawnbroking has been portrayed as an unfavourable and expensive way of borrowing cash for decades, today it serves as a significant alternative to all other conventional means to borrow money, not only in London but all over the world. 

If you have never walked into a pawnshop in London or are intrigued to ascertain the reason behind the increasing popularity of pawnbrokers in today’s society, take a look at the following benefits that come with the services provided by reliable pawnbrokers in London or anywhere in the UK.

• Instant Cash

A pawnbroker lends instant cash in exchange for anything valuable that a customer keeps as collateral.  However, the amount of credit loan that your pawnbroker is willing to lend depends on the actual value of the collateral, considering the current market price and other essential factors. Unlike banks or other traditional money lending institutions, high street pawnbrokers provide instant cash loan against a luxury asset without carrying out any credit check.

With trustworthy pawnbrokers London, like at The Luxury Hut, you are likely to receive the highest possible amount of credit loan for your asset and get paid immediately without any obligation. 

• No credit check

Any high street pawnbrokers in London or any other big city will not depend on your credit score to approve a loan. Thus, customers who have a poor or bad credit history can turn to any trusted pawnbrokers with full confidence. Your pawnbroker will lend money based on the actual value of the precious item you use as collateral. You may be only asked to provide proof of identification and sign a credit agreement if only you agree to proceed with the transaction.

• Convenience

Whether you are looking to pawn a diamond ring or want to get a loan against your watch to raise instant cash, you can indeed pawn assets via the viable online platform developed by well-established pawnbrokers in London at your convenience without any hassle. 

Expert evaluators at The Luxury Hut are always on hand to provide its customers with immediate valuation. Begin the process by simply filling up the online form and receive an initial valuation right away. 

• Right to retain your asset

When pawning your asset with pawnbrokers London, you will retain the right to recover your collateral anytime within the loan period or after the contract ends. The maximum loan term is usually six to seven months. You can redeem your asset whenever you wish to, only by paying off the original loan amount and the due interest. 

• Pawn more than one asset at a time

Customers can bring in more than one asset to pawn with a pawnbroker. You can redeem each item kept as collateral on its own or also with other pledge assets, merely by repaying the applicable interest along with the actual loan amount.

Pawnbroking Today: A Safer & More Viable Option to Get Instant Access to your Asset

The world of pawnbroking has changed significantly over the years. Today, pawn loans are recognised as a more secure and viable option of borrowing than it was ever before. While pawn shops turned up over 3,000years ago, pawnbrokers had gained itself a prejudiced reputation in the past. For decades, the industry has been negatively portrayed in media, considering it as an unfavourable and expensive way to borrow money. However, its image has significantly altered over the last twenty years or so. 

Indeed, today more and more people are turning to high street pawnbrokers London or ‘pawnbrokers near me’ to avail of short-term loans or sell luxury assets and raise instant cash. Consequently, trustworthy pawnbrokers in London or any other big city are working to make the process of pawnbroking simpler, more straightforward and convenient. 

Unlike any other loan types, it is more comfortable and more secure to take out a pawn loan from high street ‘pawn shops London’. 

Three Basic Things You Need to Apply for a Pawn Loan

While there may be many ways to turn up some quick cash, a pawnbroking loan is ideally the best option to raise some money immediately with affecting one’s credit score. With a pawn loan, you can get instant access to money in exchange for anything precious such as a diamond ring or a Rolex watch pawned with your pawnbrokers London. 

For those who are looking to apply for a pawn loan, here are three basic things that you would need to get your loan approved:

The Legal Owner of the Item

A pawn loan cannot be typically applied on behalf of anyone else. If you are the legal owner of the asset you are looking to borrow against, make sure that you are present during the application process.

Proof of Identification

Although a pawnbroker typically lends money based on the actual value of the asset you leave as collateral, customers are only asked to provide proof of Identification to go ahead with the transaction. This standard procedure helps high street pawnbrokers in London or anywhere in the UK to protect them as well as their customers from fraud or financial crime.

A precious asset to pawn

If you want to take out a pawn loan, you have to bring anything valuable to keep as collateral. Although the items accepted as collateral usually vary from one pawnbroker to another, some assets such as luxury watches, diamond and gold jewellery are more commonly pawned and also, universally accepted. However, you can pawn more one item at once with trustworthy pawnbrokers London or ‘pawnbrokers near me’. 

How does pawnbroking work?

When you visit a pawnshop in London to take out a loan, the pawnbroker will inspect your asset precisely and determine its actual value based on its condition, current market price and other relevant factors. He/she will provide you with a cash loan offer right away for a particular term and of course, without carrying out any credit checks. The maximum tenure of pawnbroking loans is usually six to seven months. 

If you accept your loan offer, your pawnbroker will give you a credit agreement to sign that outlines the amount you have borrowed and what the repayments are. Once you sign it, you will receive a pledge receipt as a part of the deal. Here is the best part:

You are entitled to retrieve your collateral at any time within your loan term or after the term expires by paying off your original loan amount and the interest due. However, during your loan term, your asset will be stored in specialised holding vaults that are entirely insured and safe. 

Trustworthy pawnbrokers London usually offer 14days cooling off time to come in after your contract expires and draw out the agreement, paying off the interest for the loan period and retrieving your asset. If you fail to redeem your asset within the time mentioned above, your pawnbroker will either choose to sell your collateral to recover the cash or, may help you in renewing your loan.

You can acquire a new contract and an additional seven months to pay back, by repaying the interest of your original loan term. 

Make the most out of your assets

If you are looking to raise fast cash but have a poor credit history, simply get in touch with your trustworthy local pawnbroker today. Unlike banks or other traditional lending institutions, high street pawnbrokers in Hatton Garden or pawnbrokers London do not depend on their customers’ credit score to approve a loan. 

Your pawnbroker will examine your collateral and offer you a loan based on the item’s actual value. Moreover, you can pawn the same item again and again. But, while the value of some assets especially of precious metals like gold often fluctuates over time, you may not be offered the same credit loan amount every time you pawn it with pawnbrokers in London or anywhere in the UK.

London Pawnbrokers: A Brief Account of its Past and Present

Pawnbroking may not be known as the oldest profession of the world, but its origin can be traced back to more than 3,000 years ago when pawn shops first turned up. Pawnbrokers used to provide credit to the peasants while being supervised by Imperial authorities.

Pawn shops were famous in ancient Greece and Rome. While small merchants used a pawn loan to begin their businesses during the Middle Ages, the Catholic Church imposed restrictions on charging interests for pawn loans. This eventually hindered the growth of pawn shops. However, with the increase in demand for such kind of credit in 14th and 15 century, the constraints loosened....Read More

Get Loan Against Watches – Which Watch Brands Retain Their Value Best?

Luxury watches from elite brands like Rolex, Breitling, Patek Philippe and many others not only represent an excellent asset to wear regularly but also a valuable item to use as collateral for a cash loan. The fact is that a luxury watch holds their value well with time due to their reputation, excellent artistry, design and exclusivity. Although every brand has its unique features and identity, there are indeed many factors that typically influence a watch’s value. Today, let’s have a brief look at five of the well-known brands (to name a few) that trustworthy pawnbrokers in London or pawnbrokers Hatton Garden look for or covet.

1. ROLEX

Rolex watches are renowned and coveted because they keep hold of excellent value with time. The Rolex Daytona, Rolex Day-Date, Rolex GMT-Master and Rolex Submariner are some of the highly sought-after models. However, if you even have a Rolex watch that is no longer in production, it is also likely to fetch you a higher value when pawning it with trustworthy pawnbrokers in London or ‘pawnbrokers near me’. 

Some Rolex watches also have an association with celebrity and this eventually, increases their value. For example, the rare Paul Newman Daytona broke all previous records for luxury watches, fetching £13.8 million in 2017. 

2. BREITLING

Breitling has close associations with the aviation industry, known popularly as the pilot’s watch of choice. The watches of this brand consist of many advanced technological features. In December 2018, a Breitling Navitimer model went for £21,000, illustrating the brand’s endless appeal and desirability. 

3. CARTIER

Cartier is one of the world’s popular luxury watch brands. If you own a Cartier watch, you are indeed fortunate. This is because you have a valuable item that you can use as collateral to get a high-value pawn loan from Hatton Garden pawnbrokers or pawnbrokers in London. However, both vintage and contemporary Cartier watches are coveted and do well at auction. 

4. CHOPARD

This well-established and sophisticated brand is famous for its watches with a modern yet classic look, along with unique touches. Chopard boasts many show-stopping watches, such as the 28mm Imperiale Quartz ladies wristwatch. The timepiece is fabricated from 18ct white gold and set with pave diamonds. 

People who are the owner of this model or any other Chopard watches are indeed in possession of a valuable asset. If you are looking to opt for a pawn loan from professional pawnbrokers London, you can use your Chopard watch as collateral for it and obtain a higher credit loan amount. 

5. IWC

IWC might be a lesser known brand in comparison to high profile brands like Rolex, but the manufacturer has never disappointed its admirers or collectors with their exclusive collection of luxury watches. IWC watches are associated primarily with adventure and sport. One of the brand’s iconic models is namely the Portugieser Chronograph. The watch’s unusually large face and clean dial are similar to the 1930s. While these watches were made in only small numbers and yet today invoke up a feeling of exclusivity, the IWC Portugieser Chronograph remains highly desirable. 

If you want to avail of a credit loan against your classic watch, get in touch with the most trustworthy ‘pawnbrokers near me’. The pawnbroker will assess the value of your watch carefully by considering its age, condition, rarity and other essential aspects and determine the amount of credit loan he/she is willing to lend for it. 

Thus, whether you choose ‘pawnbrokers Hatton Garden’ or pawnbrokers in London to take out a pawn loan, make sure to bring in all original documentation (if any) of your watch like service history, box, and certificate of authenticity.

5 Benefits to Pawn Luxury Items with Pawnbrokers London

Over the last few hundred years, high street pawn shops have evolved significantly and have today become more accessible than ever before. Indeed, many people consider pawn loans as a more sensible and professional method of flexible, short-term borrowing. While they are aware of the real benefits of pawnbroking, people are turning to trustworthy pawnbrokers London to get a collateral loan and raise instant cash. 

For those who have never walked into a high street pawnshop London and opt for a collateral loan before, here we have rounded up six benefits of the services offered by professional pawnbrokers in London. Take a look!

1. Get a pawn loan using your luxury asset

You may have an old piece of gold jewellery or a luxury watch that is stored in a box or drawer most of the time. If you need to raise instant cash to pay for an emergency cost of any kind, you can choose to unlock the value in these items. 

High street pawnbrokers in London or any other big cities lend money in exchange for anything precious that is used as collateral. The amount of credit loan you are likely to receive will depend on the actual value of your collateral. As long as your luxury item holds value and is genuine, a pawnbroker will accept it as collateral for a pawn loan. 

2. No Credit Check

Unlike banks or other traditional lending institutions, pawnbrokers do not carry out any credit check before approving a loan. Whether you have a bad credit history or your credit score is below a specific threshold, your trustworthy pawnbrokers London will lend you money based on the overall value of the asset you leave as collateral.   

Customers are only asked to give proof of Identification and also, sign a pledge receipt as a part of the loan application process. 

3. Short Loan terms

The maximum term of a pawn loan is typically six to seven months. You will have to pay off the full loan amount and the interest due by the end of your loan term. However, a customer can retrieve his/her asset any time within the loan term or soon after the contract ends by repaying the original loan amount and the interest. Thus, if you can pay off your pawn loan earlier than your loan tenure, you will get back your asset sooner.  Overall, pawnbroking loans are easier to manage without becoming an anxiety year in and year out. 

4. Easily Accessible

Pawn loans are indeed easier to access. Whether you want to pawn a luxury watch or get cash for gold, the viable platform of professional pawnbrokers online will help you in pawning assets at your convenience without any hassle. 

On the contrary, you can choose any reliable pawnbrokers London or a trustworthy local pawnbroker and arrange an appointment to visit their office with your asset, carrying out the pawnbroking process in-person. 

Your pawnbroker will immediately assess your item and make a loan offer on the spot. If you accept the offer, you will get paid in cash right away without any obligation. 

5. Flexible Repayments

Your pawnbroker will provide you with a credit agreement to sign (if you agree to go ahead with the transaction) that outlines the amount you have borrowed and what the repayments are. When your contract expires, you will be offered 14days cooling off time within which you have to draw out the agreement and pay the interest for the loan period. 

If you fail to redeem your asset, your pawnbroker may help you to renew your loan. You will be provided with a new contract along with an additional seven months to pay back. You will only have to pay off the interest of your original loan term.

4 Common Questions People Ask About Pawnbrokers London

Can I Get A Loan From Pawnbrokers Near Me?

Pawnbroking is one of the oldest and popular ways of borrowing cash. While this industry underwent enormous changes over the past twenty years, people today tend to rely more on trustworthy local pawnbrokers than any other traditional money-lending institutions to get an instant loan. Indeed, professional pawnbrokers are working to make the process of borrowing money more convenient and straightforward. 

Thus, if you want to turn up fast cash, get in touch with any trustworthy ‘pawnbrokers near me’ and get a pawn loan without any obligation and hassle. 

How do pawn shops in London work?  

The origin of pawn shops can be traced back to nearly 3,000years. The practice of borrowing money was prevalent among the peasants. However, pawn shops in London or any other big cities today serve as a significant alternative to any other conventional ways of acquiring credit. A pawn shop is a legitimate and convenient place to obtain a credit loan, leaving any valuable assets as collateral. Your pawnbroker will provide you with a pawn loan without carrying out any credit check. 

When you walk into your local pawn shop, your pawnbroker will assess your asset precisely and determine the amount of credit loan he/she is willing to offer, based on the current market value and other essential aspects of the asset. If you are satisfied with your offer, your pawnbroker will provide you with a credit agreement to sign. Your collateral will be kept securely in insured vaults until you recoup it paying off the loan amount and the interest due. 

How do pawnbrokers London value items?

Trustworthy pawnbrokers in London or anywhere in the UK provide a cash loan offer based on the overall value of the asset you leave as collateral. Whether you want to obtain a loan against a second hand Rolex watch or a diamond ring, your pawnbroker will examine your item with utmost precision, care and attention. 

Professional pawnbrokers London typically perform many tests to establish an item’s nature, weight or inspect it for blemishes, scratches or any other damages. Considering all these essential factors along with the current market price, your pawnbroker will provide you with the final cash loan offer. 

What things do London pawnbrokers want from you?

Generally, pawnbrokers accept a luxury asset as collateral for a pawn loan. However, a pawnbroker is more interested in taking anything valuable that he/she can sell when necessary to recover the debt. 

The assets accepted as collateral for a pawn loan may vary from one pawnbroker to another. But, some precious items are considered worldwide. While jewellery is one of the most popular items to use as a pledge, you can also choose to pawn luxury watches, loose diamonds, gemstones and precious metals with trustworthy London pawnbrokers or at any high street pawn shops near you.