Thing you need to know before applying for a loan
Moneysupermarket recently published 10 things you need to know before applying for a loan - but one of the most important things you should know was omitted!
Check out their top ten first - and then see what they missed:
- You can only borrow up to £25,000 with an unsecured loan. Borro.com offers £100 - £100,000 – secured against personal valuables such as gold, jewellery, watches, art and antiques.
- A secured loan is held against your property. A loan from Borro.com will never result in repossession of your house.
- You may not be offered the rate you see advertised. Borro.com never charges more than the advertised rate.
- The best rates are available to those with the best credit scores. Even if you have a bad credit score, if you have appropriate collateral in the form of personal valuables, you will always get a loan from Borro.com - and even if you eventually decide not to pay off your Borro loan, it will not affect your credit score in any way.
- The longer the term, the more interest you’ll pay. Borro.com charges interest by the month - but you can pay off the loan anytime you like, with absolutely no hidden extras for early settlement.
- A credit card may be a better option for short term lending. Credit card loans have strict upper limits regarding the loan amount - and some credit card companies have been criticised for charging unfair penalties for late payment and defaults. With a loan from Borro.com, you know exactly what the maximum risk is, and your debt will never spiral out of control.
- It can cost you to pay back the loan early. This not happen with Borro.com.
- There may be other hidden fees. With a Borro loan, there are no administration or arrangement fees.
- Your repayments may be variable. Not with Borro.com. The interest rate is clearly stated on the contract, and cannot change. You will get no nasty surprises with Borro.
- You don’t have to buy PPI when you take out a loan. Borro.com does not sell Payment Protection Insurance, so you will not be pressurised to buy it at Borro.com.
- THE ELEVENTH THING YOU NEED TO KNOW - is that pawn loans are among the most reliable and readily available forms of short term finance at this time. Borro.com, the world’s first online pawnbroker, is UK government regulated, and all Borro contracts are approved by the Office of Fair Trading.
Compare Borro’s loan offers with the “best deals” quoted by moneysupermarket:
Moneysupermarket’s pick of unsecured loans are only available to existing Sainsbury’s and Nationwide customers - and they are only for amounts between £5,000 and £15,000.
Borro.com offers £100 - £100,000 for 1 - 6 months (extendable by mutual agreement) at 4% - 6% per month.
The Blackhorse Personal Finance Loan has the leading secured loan rate in the UK and can only be found at moneysupermarket. It offers a headline rate of 7.9%, but you will only qualify for one of those if you have lots of equity in your house, and it will put your house at risk.
Fast cash is easy cash at low rates with Borro.com. If you are seeking a personal loan in the form of a secured loan or collateral loan at low rates of interest, check out Borro.com today.
Online pawn shop, Borro.com, operates 24/7, so you can arrange everything from home, on your pc. It’s discreet, convenient, and compared to many other so-called short term loan providers, it’s cheap! Pay day loan companies and doorstep lenders typically charge 25% upwards per month!
For an affordable, no risk loan, get online to leading short term loan provider, Borro.com.
Need a small business loan?
You will be lucky to get one from a bank. They are more interested in taxpayer bale-outs enabling them to continue paying themselves large bonuses.
It used to be that pawnbrokers were the ones with the image problems. Not any more! If you were unlucky enough to have been sold a bank loan that you can’t afford (there were lots of those in the good old days), then you might know something about all the hidden extras that were not explained in detail when you signed up.
For example, admin & signup charges, early settlement fees, late payment charges and default penalties - if you couldn’t keep up the payments. All of these hidden extras + compound interest can lead to a much higher APR and interest rate than a pawn loan. Also, you might have found that your bank hiked your interest rates during the period of the loan.
Pawnbrokers don’t do that! These days, it is pawnbrokers who are seen as solid and reliable lenders rather than the high street banks. A pawnbroker will never saddle you with a debt that you can’t settle – one way or the other, and, even if you decide not to pay off a pawn loan, it will never result in adverse credit ratings, debt collectors, court actions, asset seizures or repossessions.
Borro.com offers £100 - £100,000 for 1 – 6 months (extendable by mutual agreement) at 4% - 6% interest per month. A typical pay day loan company charges 25% plus, and if you have ever defaulted on a bank loan, overdraft or credit card, you’ll know just how expensive - and open ended - that can be.
Borro.com, the world’s first online pawnbroker, is UK government regulated, and all Borro contracts are authorised by the Office of Fair Trading, so you can be sure of every possible legal protection.
With Borro.com, it’s all done online, at home, on your pc. There are no credit checks, intrusive questions or bureaucratic delays. If you have appropriate collateral, in the form of gold, jewellery, watches, art or antiques to pledge as security, you will always get a Borro loan, even if you have a bad credit rating.
Borro.com has transformed the business of getting a pawn loan into a discreet, convenient, and safe service. And it’s fast too! All goods are shipped, prepaid by fully insured courier, and all loans are transferred electronically, directly into any UK bank account you wish to nominate – frequently within 48 hours of application
Easy cash is fast cash at low rates with leading short term loan provider, and online pawn shop, Borro.com. If you need a personal loan in the form of a secured loan, Borro.com advances money for gold and loans against diamonds and other personal valuables.
For an affordable, low interest rate loan, or a cheap, no risk collateral loan, visit Borro.com today, or call us, free, on 0800 756 9877.
More difficulties for first time homebuyers
In return for getting our (taxpayers) money to bale them out, the banks promised not to hoard their money, but to continue lending it to businesses and individuals who need it.
Of course the reality is very different to the promise. The latest ruse used by banks who want to avoid lending to first time buyers is to put pressure on the mortgage valuers they employ to undervalue the homes that buyers want to mortgage.
This means that first buyers must borrow extra, often at higher rates of interest. No wonder that the general public’s view of the banking industry is that it is run by pirates. Ironically, it is the pawnbroking industry that is seen as one of the safest, most reliable and readily available forms of personal finance around these days.
Although the APR or interest rate of a pawn loan might seem high, compared with a regular bank loan, overdraft, or credit card, a pawnbroker will never resort to dirty tricks such as punitive setup & admin fees, early settlement charges, late payment fees or default penalties. If you have been missold a loan that you can’t pay off, then once you add all of these hidden extras, together with the compound interest, it can turn out to be a lot more expensive than a pawn loan.
Also - once you have agreed an interest rate with a pawnbroker, that is it! A pawnbroker will never hike interest rates half-way through the loan period, regardless of what the Bank of England or the base interest rate is doing.
Because you secure a pawn loan with personal assets, such as gold, jewellery or watches, even if you decide not to extend or pay off your pawn loan, it will never lead to adverse credit ratings, debt collectors, court actions, bailiffs, asset seizures or repossessions. You always know exactly where you are with a pawn loan.
Borro.com, the world’s first online pawnbroker, offers £100 - £100,000 for 1 to 6 months (extendable by mutual agreement) against all forms of personal assets such as gold, jewellery, art, antiques or memorabilia.
Most of Borro’s customers pay off their loans and redeem their pledges, very happy with the modern, discreet, convenient, safe, fast and no-nonsense financial service which Borro offers to everyone – even if you have a bad credit rating.
Many of Borro’s customers become repeat customers, appreciating just how immediate and flexible a Borro loan really is.
Fast cash is easy cash at low rates with Borro.com. If you need money for gold, money for jewellery or a loan against diamonds, watches, art or antiques, check out Borro.com.
Whether you need a personal loan to buy your first house, a collateral loan in the form of an affordable, low interest rate loan is always readily available from Borro.com.
Football star pawn watch for £3,000
A top flight soccer star pawned a Breitling watch (estimated £3,000) to pay for a night out on the town with his friends.
The millionaire sportsman‚ who plays for a London premiership club‚ was apparently short of available cash for the extravagant night ahead.
So he used the online pawnbrokers to get a quick cash loan using his diamond-encrusted Breitling Crosswind timepiece.
The pawnbrokers said staff were amazed when they were contacted by the wealthy player.
Paul Aitken, boss of online pawnbrokers Borro.com, said today: “We were pretty surprised when we received the call.
“This gentleman is a well-known player for a top football club and earns thousands a week.”
“But he said he needed the cash for a big night out. We offer many pay day loans, but this is one is pretty unique.
“We were quickly able to arrange a short term loan which was paid into his bank account the same day.”
Mr Aitken refused to name the player, but confirmed he did not play for cash-strapped Portsmouth FC.
Borro.com returned the prized Breitling watch to the player after his monthly wages were paid and he was able to buy it back.
Pawnbrokers business up as recession hits
The mega-rich, used to a life of driving around in sports cars are feeling the credit crunch pinch‚ pawning designer watches, super cars and even aeroplanes to cope with the recession.
Online pawnbrokers Borro, revealed they have been offered the amazing haul of goodies by hard-up bankers, stockbrokers, premiership football stars and desperate property developers.
The products that Borro has raised short term loans against recently are two Ferraris, a Porsche, six Rolex watches, 5 Breitling watches‚ and the aeroplane. The super cars and watches are all stored at secure facilities during the short term loan period.
The Ferrari F430s are worth a total of £270,000 and were pawned by bankers who lost their jobs after the recession hit.
Car pawn is a growing business for Borro, and the pawnbrokers will happily value any car to give a short term loan against it. It’s the same with watches, whether they are Tag Heures, Breitlings or Rolex time pieces. If you would like to pawn an item just call our pawnbroking line.
