UK Lender for the 21st Century
Looking for a UK lender on the internet is rather interesting, really, because you realise just how many people in the UK are in need of money. UK lenders are simply keeping up with a growing demand after all. Funny thing is the most popular UK lenders are small payday loan companies. Payday loan companies are quite expensive, it doesn’t make any sense to use a payday loan company because you only find yourself in more debt down the road and then of course, you risk ruining your credit because if, for whatever reason, you cannot pay back the payday loan on time, UK payday lenders typically report you to credit agencies.
Traditional UK lenders, such as banks and building societies have stopped lending money, period. Fat chance you’ll get any money from them. Well, what about doorstep loans? The kind you find in the local yellow pages… but UK doorstep lenders also charge outrageously high interest rates, sometimes higher than a payday loan and a bank loan put together! Then there are private UK lenders, but there is no telling how a ’private loan’ from a shark will turn out.
You can always turn to family for money or even a friend, but they aren’t actually the type of UK lenders you had in mind. What about a pawnshop? Surely you can find something in your jewellery box: a diamond ring, a watch… perhaps you can do without the luxury car for a few months and get a loan against your car! Well, that sounds just fabulous but the problem with local pawnbrokers is that their valuation system is outdated and they pay very little for your items.
Which brings us to the best UK Lender for the 21st century.
Borro.com
A no credit check loan that will protect your credit score
How a no credit check loan can protect your credit score
No credit check loans are not only for people with bad credit because if you want to protect your credit score, your safest bet is through a no credit check loan.
People with good credit make tremendous efforts to protect their credit score however most are unaware of the the fact that when they apply for a quick payday loan (or any other type of cash advance loan), they are at risk of getting a negative mark on their impeccable record. Most payday lenders in the UK share information with eachother. You see, if a payday lender cannot provide you with a cash advance for whatever reason, your private information is sold to another payday loans provider that might be willing to do so. And if that lender cannot provide you with a loan, your information is added to a huge database where other payday lenders across the UK have free access to your personal information which will allow them to run a credit check without your approval.
Many payday loan agents claim to offer no credit check loans because the competition in the cash advance loans industry is highly competitive and they will tell you whatever you need to hear in order to get you to apply for a payday loan with them. If you read the fine print carefully you may discover that while they themselves won’t check your credit, other ‘partnering’ UK lenders may have to do so in order to provide you with a cash loan.
The more often your credit rating is checked by UK payday lenders, the higher the possibility of having your credit ruined for life (either by human error, identity theives or a computer software glitch).
A REAL no credit check loan that is safe and easy
UK pawnbrokers offer the safest way to keep your credit score because a short term no credit check loan from a pawnbroker does not involve any credit checking processes, either when you take out the short term no credit check loan, or if you default on the loan. The key to protecting your credit score revolves around the fact that a short term no credit check loan is secured by pledging personal assets such as jewellery, watches and other personal valuables as security for the short term loan. Therefore, there is no need for the pawnbroker to refer to a credit checking agency to see if you are good for the. Similarly, if you default on the short term loan, because the pawn broker can sell the assets being held as security for loan, and use the proceeds to pay off the short term loan, returning any surplus to the borrower, should the proceeds of the sale exceed the amount of the loan, plus interest and costs.
If you need a loan which is guaranteed not to damage your credit score under any circumstances, apply to a pawnbroker for a REAL no credit check, short term loan.
UK Pawnbroking and the new image
UK pawnbroking has changed dramatically over the years
As the banking system evolving out of the renaissance period, pawnbroking provided the original form of secured lending. UK pawnbroking shops traditionally provided loans in exchange for pledges of personal assets including clothing. Many early shipping merchants pledged their valuables to UK pawnbroking agents in the City of London in exchange for the finance necessary for their commercial adventures.
Later, in Dickensian times, the image of UK pawnbroking became tarnished by stories of exploitation of the poor and vulnerable. While many of these stories about UK pawnbroking may have been true, today’s pawnbroking industry is far removed, not only in time, but also in attitude, from its Dickensian past. Pawnbroking is firmly regulated nowadays, and pawnbroking provides a much needed social service – particularly in these times of the credit crunch, and the unprecedented scarcity of UK loan finance.
UK Pawnbroking agents vs. traditional UK lenders
Today, UK pawnbroking agents are providing increasing levels of loan finance, while banks and building societies are withdrawing theirs. UK pawnbroking agents are maintaining and even reducing interest rates, while banks and building societies are hiking theirs to predatory rates, in order to feast on the prey which they ensnared during the debt-free-for-all which they short-sightedly and irresponsibly promoted, and which ultimately caused the financial disaster we have come to call the credit crunch. Ironically, pawnbroking is fast becoming the UK’s responsible face of lending, while the banks and building societies are the ones with the image problem. So, if you are in need of a fast, inexpensive and discreet UK loan, pawnbroking may have just what you are looking for.
Online Loans: Applying for a loan from the privacy of your home
Borro.com is the world’s only online loan company providing a secured loan service throughout the UK which can truly be managed end-to-end from a computer.
Online loans ranging from £100 - £100,000 for 1 – 6 months are discreetly available, even to people with bad credit ratings.
By lodging valuables in exchange for an instant loan, Borro’s risks are significantly reduced, and in exchange, we can offer UK residents flexible and low cost, online loans. Borro’s short term, lending service includes pre-paid shipping of valuables to and from our loan company headquarters, with 24-hour online tracking of your insured consignment. Pay off the loan and reclaim your valuables at any time - and only pay for the time period of the loan.
Even people with good credit ratings are finding that a fast, credit loan online is the best way to deal with unexpected spikes in mortgage, school and holiday expenses - with no risk of a bad debt-spiral or a poor credit rating, even if one fails to settle the online loan.
More than 85% of people that apply for a loan online with Borro repay their secured loans, reclaim their valuables and apply for an online loan at a later date or whenever they need to borrow money fast.
Make an easy, online loan application to Borro.com
Whether you are looking for cheap online loans, direct online loans, a credit loan online or a direct online loan, Borro.com can help. We are the first and only online loan company that let’s you borrow money from yourself.
Apply for an online loan today
Borro.com - a ground-breaking online, short-term loan service, launched today
BORRO offers a fast, convenient, lower cost and responsible new alternative
- ‘BORRO’ (www.BORRO.com) launches as the world’s first online service offering customers short term loans through the temporary release of equity from personal assets such as jewelry, watches, gold, gemstones, memorabilia and other valuables. BORRO provides a fast, convenient and responsible solution when traditional sources (credit cards, personal loans and overdrafts) are unavailable or are already fully utilized.
BORRO offers a lower cost solution compared to the charges incurred in using alternatives such as an unapproved overdraft, or a ‘payday loan’. In addition there are no credit checks or risks, and no bad debt risks. The loan can be paid off whenever the customer chooses during the six month term of the contract and the valuables they pledged are then returned.
BORRO will lend up to 40% of the value of items pledged and charges interest at 6% per month (4% or less for loans of £1,000 or more). There are no other fees or charges of any kind. Loans of between £100 and £100,000 are available. Over 85% of customers taking out this kind of loan repay their loan and redeem their valuables.
Paul Aitken, Founder and CEO of BORRO said, “We allow people to lend themselves money through the temporary release of equity from their personal assets – all from the comfort and convenience of their own home. Our approach allows us to keep our interest rates extremely competitive, ensuring that we offer radically better value than an unplanned overdraft or a payday loan.
The added benefit of our service is that our customers have no risk of accumulating bad debts. If they can’t or choose not to repay their loan, BORRO sells the items they have pledged to repay the loan and returns any excess proceeds to the customer. This means that the consequences of not paying off a loan are very clear - and that it is impossible for our customers to build up any bad debt through taking out a BORRO loan.
We are proud of this innovative and radically better-value solution that we have created for people with a short term cash need”
BORRO has already gained a number of customers through the pre-launch test of its service. These customers have shown that the concept is very appealing and that the service works well.
BORRO is backed financially by the European Founders Fund which is also invested in businesses such as Facebook and Linkedin and has previously founded and sold companies to eBay and Verisign.
The launch of BORRO in the UK is the first of an intended international roll-out of the business, to include other European countries and the U.S.A.
Apply for your Secured Loan Today!
