Pawnbrokers See Increase in Loan Business
Pawnbrokers See Increase in Loan Business
Because the banks are not lending, it’s not surprising that the pawnbroking business is enjoying an upsurge. But many people don’t realize just how much the pawn industry is changing, and the level of benefits they are bringing to many different levels of society. What are those changes, and what are those benefits?
The biggest advantage for pawn borrowers is that they can never get into debt over their head, and their debts cannot spiral out of control. Many high street banks and mortgage lenders have been criticised, not only for lending too much, but then imposing punitive late payment charges and default penalties on borrowers that they knew would not be able to keep up the payments anyway.
Then, when things have spiralled out of control, they call in the debt collectors, bailiffs and repossession agents, and by the time they have finished, the actual cost of a bank loan gone bad can be orders of magnitude higher than the headline APR quoted at the outset.
And if you think the high street banks are predatory, many other alternative short term lenders, such as pay day loan companies and doorstep lenders are not much better, and some can be much worse!
Borro.com, the world’s first online pawnbroker, charges between 4% - 5% interest per month. This is much more affordable than the 25% plus charged by the typical UK pay day loan company, and although a pawn loan might seem expensive compared with a high street bank loan, the great thing is that the borrower can always be 100% confident that they know exactly what they are taking on.
With a pawn loan, there are no hidden extras charges, unpleasant legal consequences or adverse effect on credit ratings - even if the borrower decides not to extend or pay off the loan. Also, pawnbrokers are tightly regulated by the UK Government, so borrowers enjoy every possible legal protection.
It’s no surprise, therefore, that the pawn business is moving upscale. More and more high net worth individuals, fed up with the poor service they receive from credit-crunched banks, are using their own personal collateral in order to get a flexible, fast and controllable short term loan.
Borro CEO, Paul Aitken, says “We are seeing a definite increase in the proportion of upscale pledges, including designer jewellery & watches, as well as luxury brand cars, works of art by leading artists & sculptors, expensive antiques and very valuable items of sporting, entertainment and military memorabilia. While discretion and totally secure levels of service are essential in order to attract more discerning customers, it’s clear that asset-backed lending is perceived as an increasingly useful form of short term finance throughout the social scale”.
Borro.com offers asset-backed loans from £100 - £100,000 for 1 - 6 months (extendable by mutual agreement) against all forms of personal valuables.
Fast cash is easy cash at low rates with online pawn shop, Borro.com. If you need a personal loan, secured loan, collateral loan in the form of a short term loan which is also a low interest rate loan, get a cheap, no risk loan from Borro.com.
Visit Borro.com today, or phone us, free, on 0800 756 9877.
The Duchess of eBay Shatters Class Barriers on the Internet!
The Duchess of eBay Shatters Class Barriers on the Internet!
On the 31st of May, the Sunday Mail reports,
“She’s the Royal who puts the silver into silver surfer – unlikely as it may seem, the Duchess of Cornwall loves shopping on eBay. Prince Charles has let slip that his wife Camilla is a fan of the world-famous internet auction site where people sell and buy items for as little as one penny, and where a handbag is snapped up every three seconds”.
Paul Aitken, founder and CEO of the world’s first online pawnbroker, Borro.com, commented, “This is entirely consistent with the way we are seeing our customer base developing at this time”.
Paul continues, “Because our online service is discreet, convenient, trustworthy, and rapid, we are receiving increasing numbers of loan applications from high net worth individuals looking for effective solutions to short term cash flow problems”.
“Our customers tell us constantly that we are among the most reliable and readily available sources of short term finance in the market today. Many well-heeled individuals come to us because they are fed up trying to deal with credit-crunched banks who ask lots of intrusive questions, cause interminable delays, and then don’t deliver!”
Borro.com is UK government regulated, and all Borro contracts are approved by the Office of Fair Trading, so borrowers enjoy every possible legal protection.
If you have appropriate collateral in the form of gold, jewellery, art, antiques or other similar personal valuables, you can apply for a collateral loan from £100 - £100,000 for 1 - 6 months at interest rates between 4% - 6% per month.
Borro’s low interest rates are very affordable, compared with the 25% upwards charged by the typical pay day loan companies, doorstep lenders and many other alternative short term loan providers.
Borrowers can pay off loans whenever they choose, with no hidden extra charges for early settlement - and they only pay interest during the actual period they use the loan.
If you need a secured loan or personal loan, fast cash is easy cash at low rates with online pawn shop, Borro.com. A low interest rate loan from Borro.com is a cheap, no risk loan. Check out Borro.com today!
Redundancy Checklist
Redundancy Checklist
If you are in danger of redundancy, before you get to the stage of debt counselling or debt consulting, there are some basic things that you can do to make life easier, if the worst happens.
Look at all your debts. If you think you might be able to cut the costs of these debts by transferring to another lender, it will be best to do it while you are still in work. Your credit rating will suffer if you are made redundant, and you may not be able to look around for a better deal. Check out Best Balance Transfers, Best Bank Account, Cheap Loans and Mortgage Finding guides on moneysavingexpert.com.
If you have any savings, use them to pay off debts. Any debts you have will cost you a lot more interest than the interest you will earn on savings, although it is advisable to keep a certain amount of cash on hand for emergencies.
Monitor your outgoings. Have a look at all your costs and expenses, and see if there are any areas where you can cut down or switch supplier - from utility bills and phone expenses to food and clothing. See if there are luxuries you can do without, or any other ways to save money.
Perhaps you have personal valuables that you can sell in order to raise extra cash? You can sell items online on e-bay, for example. Alternatively, if you have personal valuables that you might sell, but they are precious to you, then it’s worth considering a personal loan from a collateral loan provider. Collateral loan provider is the new term for a pawnbroker.
Until recently, the idea of borrowing from a pawnbroker was not very fashionable, but in these days of the credit crunch, if you have appropriate collateral in the form of jewellery, luxury watches, art, antiques or other personal valuables, pawn loans are amongst the most readily available form of short term loan.
The reason why online pawnbrokers like Borro.com are reporting a steady rise in business is because secured loans from pawnbrokers are relatively no risk loans. Other forms of personal loan invariably involve asset seizure or repossession in cases of default. A collateral loan from a pawnbroker will never in a legal action against you.
With a secured loan from a pawn broker, what you see is what you get. You can pay off the loan anytime, with no hidden extra costs for early settlement, and you only pay interest during the period you actually use the loan. In comparison with other loan providers such as UK pay day loan companies and doorstep lenders, a personal loan from a pawnbroker is a low interest rate loan.
An online pawn shop will often provide easy cash at low rates of interest on a surprisingly affordable terms. With online pawnbrokers like Borro.com you can manage the whole process from your pc, at home. It’s discreet and easy, regardless of your credit score! So, if you need fast cash to tide you over until your redundancy payment materialises, try Borro.com.
Get Money Now
Get Money Now
Looking for a uk fast cash loan? If you have personal valuables to pledge, you will get money now at Borro.com.
Personal loans of £100 - £100,000 for 1 – 6 months at 4% - 6% interest are available at UK online pawn shop, Borro.com. You can do it all online, and for certain pledges, Borro will even collect by fully insured courier from any UK address.
UK pawn shop gives the best loan valuations, because their valuers are professionally trained, and because UK pawnbroker, Borro.com, operates 24 x 7 – totally online – their operating costs are lower, and they can offer the best deal.
Don’t waste time on the high street looking for an online pawnbroker. Get on to your pc, and find online pawnbroker, Borro.com, in a click! Online pawnshop, Borro.com, is regulated by the UK Government’s Office of Fair Trading, so you know you are fully protected.
A UK pay day loan company typically charges 25%, and only lends very small personal loans for very short periods. On the other hand, many so-called short-term loans companies only lend in multiples of £1,000 for years at a time, charge lots of hidden extras if you want to pay off early, and if you default, they pile on charges and interest.
A UK short term loan contract from Borro.com is totally fair and clear, with no hidden extras. You only pay interest on your personal secure loan during the period you actually use the loan, and you can pay off your online collateral loan whenever you choose, with no extra charges for early settlement.
Getting a short term loan from Borro.com is always easy, discreet, convenient – and fast! Short term loans are often transferred within 48 hours of application, and online collateral loans from Borro never involve intrusive questioning or bureaucracy – even if you have a poor credit rating.
If you want a personal, secure loan – now! – if you want a loan on gold watches, cash for diamonds or you have gold for loan, try Borro.com. If you have been searching on the following keywords; UK collateral loans, UK secured loans, UK secured loan, online pawn shop, UK personal loans, UK personal loan, online pawn broker, UK loan provider, UK personal secure loan or secure loan – if you want money, now! – try Borro.com
Low interest short term loans for UK residents
Looking for a low interest short term loan and live in the UK? The easiest and fastest way to get a low cost loan in the UK is with a pawnbroker.
The most discreet method of negotiating a UK low interest, short term loan is via an online pawnbroker
Low interest rate, short term loans from Borro.com are extremely flexible, with short term loans ranging from as little as one hundred pounds to as much as one hundred thousand pounds and ranging for periods between one to six months. A short term loan can be secured for a very low cost by lodging your personal valuables such as jewellery, watches, art and antiques as security. These type of Low cost short term loans are collateral loans and the collateral you use against the loans is the main reason why they are inexpensive.
With a low interest short term loan like this, you retain maximum confidentiality as no credit check is involved in arranging such a low interest short term loan, and you know exactly where you stand regarding this short term loan, as there are no credit or debt-collecting agencies, county courts or bailiffs involved should you not be able to pay off your low interest short term loan.
Compare the cost of a low interest short term loan from Borro.com with other online and doorstep providers, such as payday loan and cheque cashing companies, and also with the cost of unauthorised overdrafts - and then compare the negative financial and legal effects of failure to pay back a low interest short term loan to a bank (if you can actually get one).
It makes sense to apply online to Borro.com for a low interest short term loan.
